Streaming platform and device specialist Roku says it delivered a strong second quarter, with record revenue growth driven by exceptional performance in platform monetisation.
“Audiences, content, and advertisers continue their shift to TV streaming around the globe, and Roku is a key enabler of this long-term secular trend,” wrote Anthony Wood, Founder and CEO and Steve Louden, CFO in a Letter to Shareholders.
“ We more than doubled monetised video ad impressions year-over-year, and leading media companies are increasingly turning to Roku’s tools to grow their DTC (direct to consumer) services. Looking ahead, our recent success at the Upfronts demonstrates the accelerating shift of advertisers from traditional TV to TV streaming. We closed commitments with all seven major agency holding companies, doubling dollar commitments year-over-year. We believe that our leading technology, platform scale, and the value we provide content providers, advertisers, and consumers all position us well for long-term growth,” they affirmed.
“We are pleased with our strong performance in the second quarter, and are excited about the road ahead. Roku remains very well positioned to benefit from the long-term secular trend of audiences, content, and advertisers shifting to TV streaming around the globe. Our success during the Upfronts this year, the clear value we offer partners seeking to build their own DTC streaming businesses, and the continued acceleration of The Roku Channel flywheel are evidence of the competitive advantages we have built,” they concluded.
Total net revenue grew 81 per cent year-over-year (YoY) to $645 million (€544m); Platform revenue increased 117 per cent YoY to $532 million; Gross profit was up 130 per cent YoY to $338 million; Active Accounts reached 55.1 million, an increase of 1.5 million active accounts from Q1 2021; Streaming hours were 17.4 billion hours, a decrease of 1.0 billion hours from Q1 2021, and Average Revenue Per User (ARPU) grew to $36.46 (trailing 12-month basis), up 46 per cent YoY.