Roku Buys Content From Failed Quibi Video App

The platform closed only about 6 months after its launch due to a lack of users.
Roku Buys Content From Failed Quibi Video App
Image credit: Chris Delmas | Getty Images

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Entrepreneur Staff
1 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

The streaming device brand Roku announced on Friday that it has bought the worldwide distribution rights to the content of the failed video application Quibi , three months after this platform will close only about 6 months after its launch.

This is an action by the company to promote its own channel, Roku Channel, beyond the services it provides for platforms such as Netflix and Amazon Prime Video .

Quibi was born when Jeffrey Katzenberg and Meg Whitman , Quibi CEO and former Hewlett Packard CEO, raised more than $ 1.75 billion to create a video streaming service platform that would have original content and which you could subscribe to for $ 4.99 a month. (about 100 Mexican pesos at the current exchange rate). However, in October 2020 it closed its operations due to a lack of users.

The Quibi content library currently has more than 75 shows and movies with the likes of Liam Hemsworth, Sophie Turner and Kristen Bell.

 

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