The deal continues to add assets to the streaming company’s Roku Channel, which doubled its scope in 2020, reaching households with 63 million people. It is primarily a destination for free, ad-supported streaming and has nearly 200 channels.
Executives declined to specify a valuation but source familiar with the deal said it would not require a regulatory filing that all transactions of $100 million and up entail.
The deal involves Roku taking over TOH Intermediate Holdings, which owns the This Old House business, from TZP Group. The executive team of This Old House will join Roku, including CEO Dan Suratt, and the team behind the shows will continue creating programming as before, Roku said.
The show’s libraries, all digital assets, and the television production studio are included in the deal. This Old House and Ask This Old House were the two top-rated home improvement programs in the U.S. in 2020, according to Nielsen. They have earned a total of 19 Emmy Awards and 102 nominations.
Earlier this year, Roku entered the original programming realm by acquiring the programing of Quibi, positioning the lineup for the Roku Channel. It also just debuted an original series, Cypher.
Past seasons of This Old House and Ask This Old House are already available for free on The Roku Channel through both linear and on demand programming. The current, 42nd season of This Old House and the 19th season of Ask This Old House are available for free on The Roku Channel as on demand episodes after they air on local PBS stations.
The Roku availability comes the day after linear premiere.
Rob Holmes, VP of programming for Roku, said the deal brings the show that “created the home improvement genre” to the company’s platform. The company has been steadily adding lifestyle programming to the Roku Channel since it launched in 2019. In a brief press call after the deal was announced, Holmes said lifestyle programming “is a great example of the first bucket of AVOD content. From a consumer standpoint, you’re very happy to watch it.” In terms of cost, he added, “it doesn’t have the same production costs as The Crown or Game of Thrones.”
In the official announcement of the deal, Holmes said This Old House “has the broad appeal that is perfectly suited to support The Roku Channel’s ad-supported growth strategy.”
Suratt, CEO said Roku “represents the future of TV, and we could not think of a better home for This Old House to grow and to continue its leadership position in the home improvement genre.”