Roku climbs as the streaming company breaks the 50 million active account turning point (ROKU).
- Shares of the streaming company, Roku, are up over 2% on Wednesday on the back of news that it has actually reached 50 million active accounts.
- Roku estimates nearly one-third of United States families have cut standard pay-TV.
- Roku’s stock is up approximately 148% over the previous year alone as the streaming service continues to outshine the marketplaces.
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Shares of Roku are up over 3% Wednesday as the streaming business announced it broke the 50 million active account turning point in the fourth quarter.
Active accounts at Roku increased by around 14 million in 2020 alone, and the streaming company boasted a 55% year-over-year boost in streaming hours.
CEO Anthony Wood stated in a press release, “I’m thrilled that more than 50 million households now turn to Roku for their TV viewing. The world is relocating to streaming, and we eagerly anticipate continuing to assist audiences, advertisers, material publishers, and TV manufacturers succeed in the Streaming Decade.”
Roku now estimates that almost one-third of US families have actually cut conventional pay-TV.
Even much better for the streaming giant, a new study from The Trade Desk of 2,600 U.S. consumers found some 67% of United States Households either never had pay TV, have cut the cord, or are intending on cutting the cable.
In The Trade Desk’s report, Chief Method Officer Brian Stempeck said of the streaming outlook, “with just a quarter of young grownups having any long-term interest in conventional cable television, in a few years we will not be speaking about linear or cable television at all. It will all be online and streaming.”
Stempeck continued, “For broadcasters and advertisers, it’s now all about how rapidly they can pivot to where the eyeballs are moving, and a number of them are currently investing greatly in order to prosper in a world of linked TV.”
Shares of Roku are up around 148% over the previous year. That’s compared to 18% for the S&P 500 and 45.35% for the Invesco QQQ ETF that tracks the Nasdaq 100.
( the headline, this story has actually not been published by Crucial India News personnel and is published from a syndicated feed.).