Quibi’s extensive library of short content may have found a new home.
According to the Wall Street Journal, Roku is approaching an agreement to buy the content catalog of Quibi, the short-lived mobile streaming platform, launched by Jeffrey Katzenberg and Meg Whitman, which was launched in April 2020 before closing in December.
The WSJ reported that Roku would acquire the rights to Quibi’s content, but that the specific details and financial terms of the proposed transaction had not been disclosed, and that the transaction could still proceed.
Katzenberg & Whitman’s $ 1.75 billion venture would change the way we consume content into series and movies served in pieces of ten minutes or less. In January 2020, the couple first watched the “turnstyle” content featuring high-impact Hollywood talent projects, such as Guillermo del Toro, Steven Spielberg, Antoine Fuqua, Reese Witherspoon, Anna Kendrick, Liam Hemsworth, Sophie Turner, among others. other. The hype and buzz for the new platform continued at Sundance, where they allowed the masses to experience the new app.
After the launch, Quibi did not get much foothold and in October it was announced that they would stop. They officially closed the store on December 1st.
According to some of the offerings at Quibi, producers have partnered with Quibi to showcase their performances on the platform for seven years. According to WSJ, there were some contracts stating that the content could not be shared on other platforms. Roku’s contract terms would not prevent the company from broadcasting the content.