Roku Inc. (NASDAQ: ROKU)announced on Tuesday that its platform will include the addition of ESPN+, allowing users to access over thousands of live sporting events. Roku shares surged by 11.46 percent after the announcement.
ESPN+ bring a variety of sports from MLB, NHL and MLS games to even highly anticipated events such as Grand Slam tennis, Top Rank boxing, PGA golf tour, college sports and much more.
Roku will add the channel to its platform for users for a fee of $4.99 a month or $49.99 a year.
“Roku customers have enjoyed the ESPN channel for years. The launch of ESPN+ marks an exciting moment for the OTT sports experience, giving consumers more sports content from their favorite pastimes than ever,” said Scott Rosenberg, General Manager of the Platform Business at Roku.
Roku shares continued to surge after Stephen Cohen’s Point72 Asset Management took a 5.1 percent stake in the company, according to filings.
Roku also benefited heavily following Netflix’s earnings on Monday. The two share a similar media streaming platform, which led Needham analyst Laura Martin to reiterate her bullish position for Roku.
“If you like Netflix, buy Roku." Martin said that Netflix's results show "growing broadband adoption globally and a shift of viewing away from TVs and toward [over-the-top] and digital channels," which Roku benefits from as well, though its stock isn't as expensive as Netflix's, according to MarketWatch.