Inside the subsequent few years, Roku anticipates that round half of all households in america will probably be cord-cutters — and plenty of of them could have by no means subscribed to a standard pay-TV service. The element was dropped amid Roku’s newest quarterly outcomes throughout which we discovered that the corporate entered the brand new 12 months with almost 37 million lively customers. Roku CEO Anthony Wooden referred to as 2020 the beginning of the ‘streaming decade.’
On February 13, Roku said the company ‘exceeded’ its income and gross revenue outlook throughout the fourth quarter of 2019. Wanting on the complete 12 months, Roku raked in additional than $1.1 billion in income and maintained its place as #1 streaming platform within the US, a minimum of primarily based on the variety of hours streamed (40.three billion for the 12 months).
Throughout 2019, Roku noticed its year-over-year platform income enhance to $740.eight million, a 78-percent soar. The 12 months’s complete web income was up by 52-percent and gross revenue was up by 49-percent. The corporate noticed one other 9.eight million ‘incremental lively accounts’ be part of the platform all year long and streaming hours elevated year-over-year by 16.three billion.
In a letter to its shareholders, Roku stated that the corporate is looking forward to the ‘streaming decade,’ pointing towards the market’s elevated transition to streaming. ‘That is driving extra viewers to spend extra time streaming and fewer time in conventional pay-TV, and plenty of shoppers are leaving the legacy pay-TV ecosystem solely.’
As such, the corporate anticipates that by the 12 months 2024, round half of US households could have solely ditched cable and satellite tv for pc — and that’s in circumstances the place they even had them to start with. Roku goals to ‘thrive’ throughout this anticipated mass transition to streaming with its ‘The Roku Channel’ remaining a ‘key driver of engagement and monetization,’ amongst different issues.