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Streaming giant Roku Inc. is buying the rights to dozens of shows from Quibi Holdings LLC, the failed short-video startup founded by film mogul Jeffrey Katzenberg. Roku will offer more than 75 shows that Quibi created with Hollywood studios and producers on its Roku Channel, a free ad-supported streaming service. The news sent Roku shares up as much as 6.2 per cent to US$402.85 in New York trading Friday. Launched more than three years ago, the Roku Channel has thousands of free movies and dozens of live channels and is among the most popular streaming apps on Roku, reaching about 62 million...

The San Jose company said it is buying the global distribution rights to Quibi's library of more than 75 shows to air on the Roku Channel.

The Quibi production “#FreeRayshawn,” won Creative Arts Emmy Awards for stars Laurence Fishburne and Jasmine Cephas Jones, in the short-form category. Much of the the content had previously run on Quibi, but more than a dozen new programs will make their exclusive debut on The Roku Channel. "Today's announcement marks a rare opportunity to acquire compelling new original programming that features some of the biggest names in entertainment," said Rob Holmes, vice president of programming at Roku, in a statement. "We’re excited to make this content available for free to our users in The...

“We do think this deal represents a great value. Fundamentally, we think that Quibi has created great, high-quality content,” Rob Holmes, Roku's VP of Programming, told Variety. “It’s a great value proposition for our users… We’re pivoting from Quibi’s SVOD model to an ad-supported model, and this type of new, original content is not usually available for free ... We believe in this broader AVOD [ad-supported video-on-demand trend]. At a very high level, we know that our users engage in a very significant way with free content.” With the Quibi deal, “We think this pivot f...