Roku Developers confirmed acquisition of a startup Quibi without disclosing exact financial data. Roku has been granted the exclusive rights to most of the shows with famous actors.
Deadline has tentatively estimated the deal at close to $ 100 million. Roku shares are up 5% after the news of the purchase was published.
Roku got the rights to the entire Quibi library except for the daily news shows. The main benefit of the deal is the actors who starred in the films and series of the service:
- Idris Elba
- Kevin Hart
- Liam Hemsworth
- Anna Kendrick
- Nicole Richie
- Chrissy Teigen
- Lena Waite
Roku will release purchased content for free with ads on its channel. In addition, there will appear already filmed projects that did not appear on Quibi due to the rapid closure of the startup.
The Roku company makes money from the sale of video streaming devices and software. Now the company is developing an advertising direction. In the fourth quarter of last year, the audience of the Roku channel reached 61.8 million US residents. The channel publishes paid and free content.
Roku plans to change the format of the purchased content to longer episodes.
Quibi was founded by former Walt Disney Studios CEO and Dreamworks co-founder Jeffrey Katzenberg and Margaret Whitman, who led HP and eBay. The Quibi streaming service was launched on April 6, 2020. It featured films and TV series up to 10 minutes long. In addition, the developers have adapted the content for viewing both horizontally and vertically on a mobile phone screen.
Companies such as Disney, Sony Pictures, Warner Bros., Lionsgate, MGM, NBCUniversal, BBC Studios, Alibaba ($ 100 million), venture capital firms Madrone Capital Partners ($ 200 million) invested in the launch of Quibi $ 1.75 billion , Goldman Sachs banks ($ 50 million) and JPMorgan ($ 50 million), Google ($ 50 million). Startup founder Jeffrey Katzenberg invested $ 5.5 million and Margaret Whitman invested $ 10.5 million.
The launch of the startup coincided with the imposed quarantine in the United States and Canada. According to Sensor Tower, 910 thousand users have used the service. Of these, 92% did not renew the free trial subscription, which was initially given for three months, then the trial period was reduced to 14 days. After that, advertisers began to change the terms of contracts.
In October 2020, the founders published a letter to employees to close the startup and sell content and rights. The founders of the startup speculated that the service failed due to a lack of a strong initial idea and / or a bad launch time.
Video content on mobile devices is popular – about 10% of Netflix users watching content from mobile devices, YouTube traffic two years ago was about 40% of all mobile traffic, and quantity active TikTok users – 500 million people.
Google Chrome for iOS has come to Android with three years of experience. Pages can be set aside for later
Google has begun to distribute a new convenient feature for the proprietary Chrome mobile browser for the Android operating system....
Waterproof mini PC over $ 3,000. Stealth WPC-905 is designed for use in harsh environments
The range of the Stealth company has been replenished with the WPC-905 mini-PC, which stands out primarily for its protection...
Small but powerful new generation GeForce graphics cards. MSI Aero ITX GeForce RTX 3060 and RTX 3060 Ti adapters presented
MSI has unveiled the GeForce RTX 3060 and RTX 3060 Ti graphics cards as part of the Aero ITX line....
Huawei will only sell its smartphone division as a last resort. The company can maintain wages for up to 5 years even under sanctions
Rumors surfaced on Monday that Huawei might sell the smartphone division. Later it became known that the company is negotiating...
This will be the Redmi K40. High quality image
Recently, Lu Weibing, general manager of the Redmi brand, officially announced the Redmi K40 series on Weibo and announced that...
Intel unveils incredible 12-die Xe-HPC GPU
We know for sure that the Xe-HPC accelerator, also known under the codename Ponte Vecchio, will appear in the line...
Sony Alpha 1 full frame mirrorless camera can shoot 8K video at 30 fps
Sony has unveiled the Alpha 1 full-frame camera. According to the manufacturer, it is “the most technologically advanced and innovative...
The miniature and powerful Huawei electric shaver is presented
Huawei has announced a new product, a smart electric shaver called the Dynacare Turbo Six-Blade Shaver. It can connect to...
- Phones4 days ago
Huge screen, huge battery and price from 75 euros. Infinix Hot 10 Play smartphone presented
- Articles7 days ago
5 Xiaomi devices that will make your home smart
- Laptops7 days ago
Snapdragon laptop for only $ 230. Introduced JP.IK Leap Connect T304
- Components4 days ago
Rumor: Radeon RX 7900 XT will receive a dual-chip graphics processor, each chiplet of which roughly matches the GPU in the Radeon RX 6900 XT
- News2 days ago
Schoolboy got burned by Nokia 3310 explosion
- News4 days ago
16-core 24-thread 10-nanometer flagship Intel Core i9-12900K (Alder Lake) will be presented in September
- Phones5 days ago
The would-be king of mobile photography has just one speaker. Vivo X60 Pro + will disappoint stereo sound lovers
- Phones4 days ago
Huawei smartphones are the best again. They already have real-time ray tracing