Roku officially takes over short-lived Quibi's library of 75 original shows that include big name stars like Chrissy Teigen and Kevin Hart

  • Quibi launched its short video service in April 2020, but shutdown in Oct 2020
  • The short life of the firm is due to it entering an already saturated markets
  • Quibi had produced 75 original shows that have been acquired by Roku 
  • Roku will offer the shows for free to is some 61 million daily users Video-streaming device maker Roku Inc said on Friday it had acquired the global distribution rights to Quibi's content library, nearly three months after the short-form video streaming app was shut down following an unsuccessful run. 

    Quibi, short for quick bites, raised $1.75 billion from investors including major Hollywood players like Disney, NBCUniversal and Viacom. 

    It produced shows that were released in 10- to 12-minute increments or less, believing that there was strong demand from people stuck doing anything from waiting in lines to commuting.But it stepped into a market already saturated with short videos from YouTube, TikTok and other platforms, and that content is essentially generated free of cost.

    More than 75 shows and documentaries on Quibi will be available this year on Roku's free, ad-supported channel.

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    FILE - This Aug. 13, 2020 file photo shows a logo for Roku on a remote control in Portland, Ore.  On Friday, Jan. 8, 2021, Roku is buying short-lived streaming service Quibi's content library to bolster content for its free Roku Channel. Financial terms were undisclosed.  AP Photo/Jenny Kane, File)

    FILE - This Aug. 13, 2020 file photo shows a logo for Roku on a remote control in Portland, Ore. On Friday, Jan. 8, 2021, Roku is buying short-lived streaming service Quibi's content library to bolster content for its free Roku Channel. Financial terms were undisclosed. AP Photo/Jenny Kane, File)

    The Quibi deal marks the company's entry into the crowded market of original content production.

    Quibi launched in April 2020, when a global pandemic scrambled the routines of millions, including commutes to work.Roku created its business solely as a hub for other streaming services, but has recently begun piling up content for its free Roku Channel.

    With the acquisition, Roku will acquire 75 staccato-style programming with some very big names attached.

    Quibi launched in April 2020, when a global pandemic scrambled the routines of millions, including commutes to work. But it entered a saturated market and closed down shop six months later

    Quibi launched in April 2020, when a global pandemic scrambled the routines of millions, including commutes to work. But it entered a saturated market and closed down shop six months later

    Idris Elba, Kevin Hart, Liam Hemsworth, Anna Kendrick, Nicole Richie, Chrissy Teigen and Lena Waithe have all been in Quibi shows. 

    That includes more than 12 shows that never aired on Quibi before it was shuttered. The shows target the 18-35 demographic, an attractive segment for advertisers.

    Roku spokesperson Dallas Lawrence said the short format will work well for the ad-supported Roku Channel because there are 'natural commercial breaks built into the programming.'

    The Quibi content, created for mobile viewing, can still be viewed on phones via Roku's mobile app.

    Roku says its channel reached 61.8 million people in the fourth quarter, double that from the prior year. With the acquisition, Roku will acquire 75 staccato-style programming with some very big names attached. Idris Elba, Kevin Hart, Liam Hemsworth, Anna Kendrick, Nicole Richie, Chrissy Teigen (pictured) and Lena Waithe have all been in Quibi shows

    With the acquisition, Roku will acquire 75 staccato-style programming with some very big names attached. Idris Elba, Kevin Hart, Liam Hemsworth, Anna Kendrick, Nicole Richie, Chrissy Teigen (pictured) and Lena Waithe have all been in Quibi shows

    More people are streaming entertainment as people stay at home during the pandemic, but there's growing competition, too. 

    New streaming services including Discovery+, NBCUniversal's Peacock, HBOMax, and others have been launched to rival older services like Netflix and Hulu.

    The Roku Channel includes more than 40,000 free movies and shows and 150 free live linear television channels.

    Financial terms were undisclosed Friday.

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