Just like a college bartender, Quibi came in and out of our lives so quickly, we almost thought it was significant. Quibi, like a shooting star was visible and never seen again. So, Roku, seeing an opportunity, searched through Quibi’s dead, defeated body, for any organs of use. And you know what? They actually found some.
To be clear, Roku did not acquire Quibi or even buy the company. Roku simply went window shopping for Quibi content, and boy did they find some fucking deals. A reported 75 shows will appear on the Roku channel for free coming sometime in 2021. The kicker is that they paid well under $100 million for these shows, which include Kevin Hart, Anna Kendrick, Idris Elba, and the Reno 911 cast to name a few. Basically, some may see it that, Roku, struck gold by picking up highly edited and produced shows for dirt cheap. Now the real test will be to see if the shows can actually take off, which would be the ultimate test. Not a few months ago, Quibi set its sights on taking over that last little bit of time that you have while you are on the shitter. Quibi is short for “Quick Bites”. But for whatever reason Quibi just didn’t take off. Part of the problem for Quibi, that Roku will not face is getting the eyes needed to have a successful streaming platform. Roku already has those eyes, and millions of them that probably won’t mind too much to check out a free show while they are already scrolling through the app.
Roku will have their first big shot to really step into the streaming world, and hats off to the company that has stealthily moved it’s way from Hardware, to software, and now streaming. They took a long-term approach that has been paying off for them. Now with a star-studded line of TV shows and short clips will give them a bit more leverage as they test the waters of streaming. The deal will give them exclusive access for two years to the Quibi shows, which in our minds is just the right amount of time to turn what was a 2020 dumpster fire into a itty-bitty profit pup.
Roku faces another uphill battle, but one that the company is more than prepared for. Roku has taken a gamble on the long-game, both with expansion and their stock price. That long-term thinking is now paying off big time for the company that once only made smart TV’s. In a world where Netflix took all the headlines, Roku sat in the background and kept working. The fruits of labor baby, finally.
It looks like the sky is the limit for Roku as they snatch up shows and market share from the competitors around them. A smart move for the smart TV maker.
Anyway, that’s my take on it. Until next time.- GS
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