Roku, the streaming media company, grew its user base by 40 per cent during the first quarter of 2019 as it focuses in on making its streaming video platform available on third-party televisions.
The California-based company reported it now has 29.1 million active users that streamed some 8.9 billion hours of programming during Q1. Roku grew its platform revenue grow by 79 per cent to $134 million (€119.7m) – way up on the revenue from selling its STB devices, which grew 18 per cent to $72.5 million during the period.
Roku reported a total Q1 revenue of nearly $207 million, up 51 per cent year-on-year, and lost $10.7 million.
“The strength of our brand, the scale of our active account base, the advantages of our purpose-built streaming OS, and the engagement of our users make Roku an increasingly important partner for content publishers, advertisers and TV manufacturers,” commented CEO Anthony Wood. “The shift to streaming and away from linear TV and legacy distribution platforms has enormous momentum. We estimate that in Q1 2019 more than one-in-three smart TVs sold in the US were Roku TVs, making the Roku OS the #1 selling smart TV OS in the USS.”