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Hello and welcome to 2021.
While many of us would like to cut a clean break with 2020, Quibi won’t.
Yes, Quibi, the short-form streaming company started by former Disney executive Jeffrey Katzenberg and directed by Meg Whitman which announced its intention to cease operations in October about six months after its launch, is said to be looking to sell its catalog of content to connected TV company Roku, per the the Wall Street newspaper.
The smart TV device maker is looking to bolster its own content roster and specifically attract users with exclusive content in what seems like a necessity today. content wars.
The key question is, how much will Roku offer for Quibi’s content catalog? While Quibi has raised $ 1.75 billion in total, only first-time investors are expected to receive some $ 350 million from these funds. Subsequent investors watch see if they can recover some of their losses as Quibi sells its assets to people like Roku. (Anis Uzzaman, general partner of Pegasus Tech Ventures, for example, won’t receive any of the $ 350 million, but hopes to recoup some of his $ 35 million through those sales.) Buuuuut not all buyers liked the content produced by the store supported by Katzenberg. : Other potential buyers are said to have passed on Quibi’s earlier openings to sell his shows, including NBCUniversal and Facebook.
Personally, I don’t see Quibi content leading users to Roku The Mandalorian made for Disney’s streaming platform. One thing I would bet on, however, is that the Roku name is about to get a lot stronger in the streaming wars. Roku, now the world’s largest distributor of streaming apps, saw its inventory increase 136% in 2020, making it a $ 41 billion company.
CONTENT IS KING: In case you missed it, Amazon last week announced plans for acquire the Wondery podcast start-up because media companies seek to distinguish themselves with audio content. Although Amazon has not disclosed the size of the deal, reports put the deal at around $ 300 million, surpassing Spotify’s $ 230 million acquisition of Gimlet Media in 2019. The creator of titles including “Dirty John” and “Dr. Death” would have attracted the interest of names such as Apple and Sony Musical entertainment.
Also under the radar in this story: Earlier this year, federal prosecutors accused Wondery’s CEO Hernan lopez and another elder 21st Century Fox executive to participate in a system of corruption to obtain the broadcast rights to the World Cup – rights which belonged to ESPN. Lopez has denied the charges and vowed to fight them.