Roku Acquires Quibi's Global Content Distribution Rights

Roku, Inc. (NASDAQ: ROKU) announced today that The Roku Channel will become the exclusive place to stream more than 75 premium shows and documentaries that Quibi created in conjunction with Hollywood's leading studios and production companies. Roku acquired the exclusive global distribution rights to Quibi's award-winning shows and will make the content available for free on an ad-supported basis in 2021 to all Roku users.

The Quibi content includes Emmy award-winning scripted series, alternative and reality programming and documentaries featuring stars such as Idris Elba, Kevin Hart, Liam Hemsworth, Anna Kendrick, Nicole Richie, Chrissy Teigen, and Lena Waithe. In addition to the full range of titles that had previously premiered on Quibi, more than a dozen new programs will make their exclusive debut on The Roku Channel.

The Roku Channel is the home for free and premium news and entertainment and in Q4 2020 reached U.S. households with an estimated 61.8 million people. The Roku Channel experienced rapid growth in Q4 2020 doubling household reach year over year and was a top 10 channel in both streaming hours and active accounts.

"The Roku Channel is one of the largest and fastest growing channels on our platform today and we are consistently expanding the breadth and quality of our free, ad-supported content for our users," said Rob Holmes, Vice President of Programming at Roku. "Today's announcement marks a rare opportunity to acquire compelling new original programming that features some of the biggest names in entertainment. We're excited to make this content available for free to our users in The Roku Channel through an ad-supported model. We are also thrilled to welcome the incredible studios and talented individuals who brought these stories to life and showcase them to our tens of millions of viewers."

"The most creative and imaginative minds in Hollywood created groundbreaking content for Quibi that exceeded our expectations," said Quibi Founder Jeffrey Katzenberg. "We are thrilled that these stories, from the surreal to the sublime, have found a new home on The Roku Channel."

"Quibi championed some of the most original ideas and inventive storytelling, and I'm so proud of what I was able to create for the platform," said Veena Sud, creator, writer, director and executive producer of the popular Quibi series The Stranger. "I'm so excited to now be able to share this thriller with millions of streamers on The Roku Channel."

The transaction will deliver a distinctive array of premium content geared towards the highly coveted 18-35 age demographic, further building out The Roku Channel's diverse lineup of more than 40,000 free movies and programs and 150 free live linear television channels.

Following an internal restructuring by Quibi, Roku acquired Quibi Holdings, LLC, the company that holds all of Quibi's content distribution rights. Financial terms of the transaction were not disclosed.

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