Roku Focuses Smart TV Platform in UK | Financial Buzz

Roku Focuses Smart TV Platform in UK

Roku, Inc. (NASDAQ: ROKU) pioneered streaming to the TV. The company connects users to the streaming content they love, enable content publishers to build and monetize large audiences, and provide advertisers with unique capabilities to engage consumers. Roku TV™ models and Roku streaming players are available around the world through direct retail sales and licensing arrangements with TV OEMs and service operators. Roku audio devices are available in the U.S.A. through direct retail sales. Roku is headquartered in Los Gatos, Calif. U.S.A.

Roku has entered the British market as competition with Amazon heats up.  The Chinese producer Hisense will advertise televisions with Roku TV in the UK.  The company has reached over 30 million households in the United States with accredited deals with several TV makers.  “We’re the leader by a wide margin in the U.S., and we’re just starting to get serious about international markets,” Chief Executive, Anthony Wood said on the sidelines of the IFA consumer electronics fair in Berlin.

Roku has deals with numerous content providers, including Disney+ and Apple+.  Digital advertising spending has been rising as marketers have converted commercial tv budgets towards streaming.  Revenue for the second quarter increased over 50% as the company has predicted revenues of over USD 1 Billion for this year. 

“Our goal is to be the leading streaming platform for households,” said Wood, seeing a future in which there will be a few mega-streaming apps, like Disney, and much other content will be syndicated into the platforms directly.

Amazon has a piece of the European market with its Fire TV platform with collaborations with Toshiba, Grundig and JVC.  Other TV makers such as Samsung still have their own custom operating system for flatscreens. 

Media and Tech analyst Paolo Pescatore states that there is no assurance that Roku will be a success on a global scale as there are numerous ways to stream TV.  “Roku is at a crossroads,” said Pescatore. “If you want to watch YouTube or Netflix, you just need a device.”