A slew of Quibi shows has found new life in Roku.
Roku will acquire the library of the short-lived Hollywood company founded by Jeffrey Katzenberg and has said it will stream its content with ads for free on its Roku Channel. Terms of the deal were not disclosed, although it has been widely reported that the final number came in below $100 million – a far cry from the $1.75 billion that Quibi raised.
<p>"The most creative and imaginative minds in Hollywood created groundbreaking content for Quibi that exceeded our expectations," Katzenberg said in a statement. "We are thrilled that these stories, from the surreal to the sublime, have found a new home on The Roku Channel."</p><p>The deal will encompass virtually all of Quibi's library, minus some of their daily news clips, according to Roku spokesperson Dallas Lawrence. </p><p>Although Quibi was widely lampooned even well before <a href="https://dot.la/quibi-2648450202.html" target="_blank">its spectacular flameout</a> culminated in its dissolution only seven months after launch, it did have some critically acclaimed shows. The police parody revival of "Reno 911" and human-hunt thriller "Most Dangerous Game" were both nominated for best short form comedy or drama series. Jasmine Cephas Jones and Laurence Fishburne each won Emmys for their performances in #FreeRayshawn. That show was produced by Antoine Fuqua, one of several high-profile names attached to Quibi shows. </p><p>Roku's primary function has <a href="https://dot.la/quibi-on-roku-2649736644.html?share_id=6146460" target="_blank">largely been as a hardware provider for streaming apps</a> like Netflix. But this acquisition of over 75 shows and documentaries that it owns exclusively could reposition the company as a more powerful player. <br/></p><p>Roku is the most popular streaming-media player in the U.S. by hours streamed, ahead of competitors such as Apple TV and Amazon Fire TV. The platform reaches homes with over 120 million people, said Lawrence. In November, the company reported 46 million active users and gross profit of $215 million, up 81% year over year.<br/></p><p>Shares of Roku were up more than 5% in morning trading.</p>
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Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.
Today:
- Apple Podcast Veteran Steve Wilson Joins Startup QCODE
- Amazon in Exclusive Talks to Buy Podcast Studio Wondery, Wall Street Journal Reports
- Pharrell Launches Black Ambition Incubator
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Apple Podcast Veteran Joins Startup QCODE
<img class="rm-shortcode" lazy-loadable="true" data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDUzNTQzMC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYzNDUzMzYyNH0.pOGV2lL0qOJQDiWw1T5i4SqsGfaL54hLWED6_5Mf1Ww/image.png?width=980" id="48646" data-rm-shortcode-id="19df32ba7da26d08c1fff113ae37e9f7" data-rm-shortcode-name="rebelmouse-image" alt="qcode" />www.sonos.com <p>QCODE, a Los Angeles podcast startup run by a former Creative Artists Agency talent agent, snagged longtime Apple podcast executive Steve Wilson. The 15-year veteran will become QCODE's chief strategy officer.</p> <p>QCODE, which <a href="https://dot.la/sonos-podcast-qcode-2648395035.html" target="_self">last month raised $6.4 million</a> in a Series A round led by Sono, is positioning itself as a funnel for Hollywood. </p> <p>Founded by Rob Herting, a former agent who had represented largely writers and filmmakers, the company has produced eight shows since 2019. Several have been auctioned for film and television, including "Dirty Diana." Amazon picked up the 6-part erotic drama for a TV series.</p>Wilson, who most recently ran marketing for Apple Podcasts, brings insights from the behemoth platform as the industry sees revenues soar. Advertising brought in near $1 billion this year, according to Interactive Advertising Bureau's podcast report prepared by PwC.Amazon Reportedly in Exclusive Talks to Buy Wondery
<img class="rm-shortcode" lazy-loadable="true" data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDc5NDU5OS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0MjgyMDY3NX0.BHKSXjwra-gGsFEa7lXCCCMJXWV5cYxrZqhddj3-uds/image.jpg?width=980" id="5d0a2" data-rm-shortcode-id="06da1a0b78a087c73fe4cd26cd4e511c" data-rm-shortcode-name="rebelmouse-image" alt="Hernan Lopez" />Hernan Lopez started Wondery with the belief that in-depth, narrative audio stories were poised to bloom.<p>Amazon is in "exclusive talks" to buy podcast company Wondery and subsume its 30 hit shows and over 8 million monthly listeners into its empire, the Wall Street Journal reported on Wednesday.</p> <p>The talks reportedly value Wondery above $300 million, in line with previous estimates from analysts, when Apple and Sony were said to have expressed interest.</p> <p>Wondery has produced dozens of original series including "Dr. Death" and "Business Wars," and has 19 shows currently in development to become television series. </p> <p>The company does not publicly disclose its financials, but chief executive Hernan Lopez has previously said the company is profitable. About three-quarters of Wondery's revenue comes from advertising, but Lopez has said the company's revenue share from content licensing is growing (Wondery owns the intellectual property for all of its originals). It also launched a subscription service, Wondery Plus, in June and is currently looking to expand its international footprint. </p> <p>Wondery, the West Hollywood-based company with the largest audience of any independent podcast producer, has been the subject of swirling rumors that several suitors are interested in acquiring it.</p> <p>After a pandemic-induced decline that struck much of the podcasting industry, Wondery's audience has surpassed its pre-COVID levels. Its Q3 revenue was about double year-on-year and its Q4 performance has been strong, Lopez previously told dot.LA. </p> <p>Podcasting overall now attracts over 100 million monthly listeners, according to Edison Research. The Interactive Advertising Bureau projects podcasting revenues to exceed $1 billion by 2021.</p> <p>That growth has spurred somewhat of an arms race, most evident in Spotify's spending spree, which also has helped that company diversify from its reliance on streaming. Amazon Music is one of Spotify's biggest competitors along with Apple Music, and <a href="https://www.wsj.com/articles/amazon-music-joins-podcasting-fray-11600261201?mod=article_inline" target="_blank" rel="noopener noreferrer">recently expanded into podcasts as well</a>. </p> <p>Acquiring Wondery would give Amazon more content to slide into Amazon Music, a scaled-down version of which is free for Amazon Prime subscribers. Combining that content with its Alexa smart speaker also could empower the company to capture more eyes and ears in the increasingly competitive attention economy. </p> <p>The talks are reportedly ongoing and no deal has been confirmed. </p>Pharrell Launches Black Ambition Incubator
<img class="rm-shortcode" lazy-loadable="true" data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzU3NDU2OS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1OTc3NTM1OH0.qD_LA3B7rgAasJRgiMNup8vVcLMlbeEh_6aU__xF7hU/image.jpg?width=980" id="16014" data-rm-shortcode-id="1ca0c3de171333cdb45540345a35c12e" data-rm-shortcode-name="rebelmouse-image" alt="Pharrell Williams" />Pharrell Williams Launches Black Ambition Incubator<p>Rapper and producer Pharrell Williams released "Entrepreneur" with Jay-Z earlier this summer, a song that became an anthem for Black ambition. Now, Williams is launching an incubator to put money behind his message.</p><p>Called <a href="https://blackambitionprize.com/" target="_blank">Black Ambition</a>, the nonprofit aims to invest in Black and Latino startup founders, and it's beginning by creating two prize competitions set to close in July 2021. The effort backed by Adidas, Chanel and philanthropic organizations including The Rockefeller Foundation and the Chan Zuckerberg Foundation. Silicon Valley startup investor Ron Conway and Buzzfeed founder and CEO Jonah Peretti also contributed. </p><hr><p>The first competition will award up to $250,000 to current students or recent alumni from a historically Black college developing or in the seed stage of a company. Smaller prizes will be awarded to at least nine additional teams. </p><p>The second competition, called the Black Ambition Prize, will give $1 million in seed money to an early-stage company focused on tech, design, healthcare or consumer products and services. Another nine teams will get smaller prizes. Finalists will be connected with and mentored by a network venture capitalists and angel investors. </p><p>"Because we don't have enough of the market share, our kids end up having issues with disproportionate access to healthcare, disproportionate access to education and as a culture, we have disproportionate access as it pertains to legislation and representation," Williams said in a video announcing the news.</p><p>Williams was inspired to pool talent from historically Black colleges and universities and build a new pipeline of investment and resources to young people. </p><p>"We want to lift our HBCUs. They lift so many of us. They deserve to be in lights," Williams said. "We think it's high time that we own more companies.</p><p>In August, Williams published a piece in Time Magazine that accompanied a cover spread on "<a href="https://time.com/collection/the-new-american-revolution/" target="_blank">The New American Revolution</a>." It coincided with his release of "Entrepreneur," the song and music video he produced with Jay-Z as <a href="https://dot.la/pharrell-williams-entrepreneur-2647055995.html" target="_self">a tribute to Black founders across the nation</a>. </p><p>"Recent events and tragedies have illustrated the always existent stark divisions in the American experience, and while entrepreneurship has long been a tenet of the American dream, marginalized people have faced long-standing barriers to success," Williams said in a statement. </p>From Your Site Articles
- Sonos backs LA Podcast Studio QCODE with $6.4M Investment - dot ... ›
- Stem Music Rights Management Software, Raises $10 Million - dot.LA ›
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Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.
Today:
- Peacock Will Be Available on Google and Android Devices in July
- Snap Debuts at 'NewFronts' Showcase for Potential Advertisers
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Peacock Will Be Available on Google and Android Devices in July
<img class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true" data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzQxMjk3My9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1NTcyNTcyM30.ovhO534ibGlL_YlkstiBbv4VDVVToMLOkyajgZw3Fys/image.png?width=980" id="a5ac1" width="1024" height="605" data-rm-shortcode-id="f4d69377ac7f50902a807ed4664e1e45" data-rm-shortcode-name="rebelmouse-image" /> <p>NBC's new streaming service Peacock has added Google and Android devices — including Andriod TV and Chromecast — to the apps that will stream its nearly 15,000 hours' worth of content beginning July 15. NBC has already announced plans to launch on Apple and Xbox.<br></p><p>Streaming will be free (but not ad-free) through October 15. Viewers can also level-up to the ad-free service for an additional $5/ month. </p><p>The service <a href="https://dot.la/nbc-peacock-streaming-service-2645721883.html" target="_blank">launched in mid-April across Comcast's platforms</a>, where it hopes to add value for its parent company's 28.6 million customers. </p><p>Peacock's library will include a flock of NBC favorites like Parks & Recreation, 30 Rock and Law & Order: SVU; movies from Universal Pictures and Dreamworks Animation such as Jurassic Park, E.T. and Shrek; and news segments, talk shows, original series and content from Telemundo. Peacock will also offer a selection of live sports (once those migrate back), and in 2021 will have exclusive rights to The Office.</p><p>As we <a href="https://dot.la/nbc-peacock-streaming-service-2645721883.html" target="_blank">reported in April</a>, speculation is that part of Comcast's strategy is to retain Pay-TV customers while also guiding a controlled move toward streaming, so it doesn't lose out as more customers shift toward cord-cutting. </p>Snap Debuts at 'NewFronts' Showcase for Potential Advertisers
<span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="bec6929f718dae099aa5dcfce3c5f920"><iframe lazy-loadable="true" src="https://www.youtube.com/embed/HQ7JwIwrWY0?rel=0" width="100%" height="auto" frameborder="0" scrolling="no" style="position:absolute;top:0;left:0;width:100%;height:100%;"></iframe></span><p>For the first time, Snap is presenting at today's NewFronts, the digital media world's annual summit of presentations to woo prospective advertisers. The event is being held virtually this year.<br></p><p>The Santa Monica-based firm describes the occasion as "a culmination of hard work that's been happening at Snap around content and video advertising for years."</p><p>Snap will be highlighting a collection of data points:</p><ul><li>As of June 22, Snapchat reaches over 100 million people in the U.S., including 90% of people aged 13-24</li><li>229 million people worldwide reportedly use the app every day</li><li>The company now also has more daily users aged over 25 than all of Twitter's self-described "monetizable user base"</li><li><span></span>Total daily time spent watching shows on Discover more than doubled from Q1 2019 to Q1 2020</li><li>Average time spent watching by people over 35 also doubled from Q1 2019 to Q1 2020</li></ul><p>Snap will also share results of a study from Nielsen that found, for example, that a Bud Light ad campaign on Snap was nine times more efficient at reaching the target audience than television advertising. Nielsen also found that the platform provided an average 23% bump on top of TV campaigns, across 20 separate ad campaigns that appeared on Snap. </p><p>The company will also be announcing a new unscripted original series at the event, as well as the renewal of <em>Driven</em>, a docuseries that the company says reached over 15 million viewers in its first installment.<br></p><p>Across all Discover, 45 shows have reached monthly audiences exceeding 15 million viewers, the company says, and the platform now operates with over 350 partners in 15 countries. </p>From Your Site Articles
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