Roku Inc. Has agreed to acquire content rights from Quiby, a deal that would make the short-lived streaming service’s shows available on the largest streaming-media player in the US.
According to people familiar with the case, Roku paid less than $ 100 million to acquire the show. One person said it was “substantially less” than the $ 100 million.
Roku will display Quibi’s content in Roku Channel, an app filled with over 40,000 movies and TV shows. Roku sells advertising on the channel and keeps it up to date with fresh content by interacting with programmers who want their content to be taken to Roku’s media player.
Roku said that earlier this year, Quibi will have exclusive global distribution rights to more than 75% of shows and documentaries on its content, the companies said on Friday. The Wall Street Journal reported earlier this week that the two sides were in advanced talks.
The show will be exclusive to Roku for the time that is left in the quibby’s exclusive two-year window with content creators. A spokesperson said that after the exclusivity window closes, Roku will retain the right to show the material until 2027.