Quibi Comes To A Close

The Quibi saga appears to be over.

Roku, maker of the most popular streaming device in the U.S., is acquiring the rights to all content from the defunct short-form streaming service.

Jeffrey Katzenberg and Meg Whitman raised $1.75 billion to develop mobile-first shows before launching Quibi last April. For a variety of reasons, including an ill-fated on-the-go approach during the pandemic, the $4.99 per month service never gained traction. 

The company announced in October that it was shutting down. 

Terms of The Deal:

• Roku paid less than $100 million to acquire Quibi’s content, The Wall Street Journal reported.  
• All of Quibi’s 75-plus shows are exclusive to the free-to-watch Roku Channel through 2021, with Roku retaining rights to air the content through 2027.
• Roku must air Quibi’s shows in their original bite-sized format; it cannot string together multiple episodes for longer segments. 

In addition to shows featuring big stars like Will Smith and Chrissy Teigen, Quibi offered a lineup of sports content, including the LeBron James-produced “I Promise,” Steph Curry-produced “Benedict Men” and Megan Rapinoe-hosted “Prodigy.”