Ebene News – United States – Roku’s Quarterly Revenue Hits High After Spending 50 Million Active Accounts

Roku had over 51 million active accounts at the end of 2020, the year in which it deployed its strengths as a distribution platform with new streaming services

This marks a 39% increase in accounts for the company, which makes smart TV devices on which it operates a video streaming platform.Roku users have streamed 17 billion hours in the past. last three months of the year, a 55% increase year-over-year

During the period, Roku added HBO Max to its line of third-party channels The company had been stuck in negotiations with WarnerMedia, owner of HBO Max, but was able to secure a deal ahead of the release of Wonder Woman 1984 on direct service to consumers NBCUniversal also struck a transport deal for streamer Peacock in late September

Roku had its best quarter in terms of revenue and gross margin Quarterly revenue increased 58% to $ 650 million Net profit for the quarter was 53 cents per share

In January, Roku acquired Quibi’s Abbreviated Program Library in a deal that would be significantly less than $ 100 million Roku could use the 75-show catalog – which will be available for free with advertisement on its Roku channel run later this year – to help it launch a more robust line of original programming for its users The company recently called for applications for a senior production attorney who, according to LinkedIn’s job description, would work on its “growing slate of original content,” including episodic and lengthy projects.

Quibi was “a once in a lifetime opportunity” for Roku, Scott Rosenberg told reporters in a phone call Thursday afternoon, adding that the company “felt it was great original content to have at an attractive price. He added that the deal was driven by Quibi’s finished or near-completed content, but that Roku has acquired the option to resume future seasons of certain Quibi titles.

But Rosenberg paused before confirming that Roku will invest to produce its own original programming. “There are a lot of possibilities for us to develop the Roku channel,” he said, noting that “whatever we in terms of content for the Roku channel must be adapted to our size and to an AVOD business model In the case of Quibi, these conditions were met “

Roku expects to generate between $ 478 million and $ 493 million in revenue in the first quarter of 2021 and have a lower quarterly net between $ 23 and $ 16 million

Roku shares, which closed the day less than 1% lower, were trading almost 2% after hours

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Ebene News – US – Roku quarterly revenue hits high after surpassing 50 million active accounts

Source: https://www.hollywoodreporter.com/news/rokus-quarterly-revenue-hits-high-after-passing-50-million-active-accounts