Latest news of quibi

The Roku Channel will be premiering 23 new original shows on August 13, all of them from the former short-form streaming platform Quibi’s library.

The streaming outlet obtained more than 75 shows in total, summing up most of Quibi's multi-million original programming portfolio. It will offer the content free of charge.

The deal, close to its completion, could give the Roku Channel exclusive access to Quibi’s slate of programming. The price has not been disclosed.

The app initially received 2.7 million downloads, but its conversion of less than 10% from free trial to paying for the service suggested that users weren't impressed with the content of the service.

After 6 months in service, the service has struggled to retain subscribers, gaining only 2 million subscribers by June. The company is considering fund-raising or merging with a special purpose acquisition vehicle.