Roku announced on Friday that it has acquired Quibi’s content library nearly three months after its short video streaming service shut down.
Neither company disclosed the financial terms of the transaction.
Starting this year, Roku will provide Quibi content with ads to all Roku users for free. In addition to content already broadcast on Quibi, Roku has the right to stream more than a dozen unbroadcast programs from the company. Roku’s own streaming media application provides a large amount of free content and supports streaming media playback through advertisements, which are part of the company̵
Quibi failed to gain traction when it launched early last year. The company closed in October and pointed out various factors that led to the failure. At the same time, during the Covid-19 pandemic, Roku experienced rapid growth. The company said that by the fourth quarter of 2020, its family influence has doubled year-on-year.
Subscribe to CNBC on YouTube.