Content orphaned by the demise of short-lived streaming app Quibi has found a new home as Roku
The downfall of the phone-based short-form content app was well documented, from the beginning of the Quibi's decline with the decimation of its subscriber base to the final curtain call. Yet, there appeared to be a light at the end of the tunnel after the remnants of Quibi were acquired by streaming titan Roku. Months after Roku's announcement, the company has finally revealed what it intends to do with Quibi; venturing into original programming.
"From award-winning scripted entertainment and engaging documentaries, to new breakout unscripted series, Roku Originals will give viewers free access to bold, fresh entertainment from the biggest names in Hollywood. Viewers can enjoy relevant, diverse entertainment that is accessible to everyone, everywhere The Roku Channel is available," Roku said in press release.
Going into original programming makes perfect sense, given that many of Roku's contemporaries are already well ahead of them. Netflix
However, the business model is to simply use Roku's existing free ad-supported "Roku Channel," rebranding it as Roku Originals. Roku's distribution plans mirror those taken by other companies such as Comcast
The news, while exciting for Roku, appears to have been offset by market pressure. Roku had an average day at the market on Wednesday, gaining just under half a percent for the day. Thursday saw market pressure start to work against the company, with Roku trending down again as 1 p.m. passed after spending much of the morning in decline.
- https://www.businesswire.com/news/home/20210421005270/en/
- https://www.theverge.com/2021/4/21/22395533/roku-originals-quibi-content-tv
- https://tv.avclub.com/old-abandoned-quibi-shows-dont-be-silly-these-are-r-1846736794
- https://www.pws.io/quibi-reported-lost-majority-of-users-after-free-trial-expired
- https://www.pws.io/gone-too-soon-quibi-shuts-down-after-6-months?query=quibi
- https://www.pws.io/roku-2020-roundup-stellar-subscriber-growth-and-the-acquisition-of-quibis-content