Roku is buying the content library of Quibi, the short-lived streaming service, to bulk up its own free ad-supported channel. Quibi, short for quick bites, raised $1.75 billion US from investors including major Hollywood players like Disney, NBCUniversal and Viacom. Roku created its business solely as a hub for other streaming services, but has recently begun piling up content for its free Roku Channel. Idris Elba, Kevin Hart, Liam Hemsworth, Anna Kendrick, Nicole Richie, Chrissy Teigen and Lena Waithe have all been in Quibi shows. New streaming services including Discovery+, NBCUniversal's Peacock, HBOMax, and others have been launched to rival older services like Netflix and Hulu.

Source: CBC News January 08, 2021 17:37 UTC