Roku Defies Expectations, Reaching 53.6 Million Active Users in Q1
by Emily Nagle
Since this time last year, Roku has grown by 79%, defying the expectations of financial analysts.
The streaming platform has experienced a customer boom, with a 35% increase in active customers since the same quarter last year. This came as a shock to Wall Street analysts, who predicted that it would lose money in Q1 of 2021. Now, Roku has 53.6 million active users, making it the top streaming provider in the United States.
In total, 18.3 billion hours of content has been streamed on Roku devices. The reason for its financial success? Roku’s advertising has also increased exponentially in the past year, with platform revenue reaching $466.5 million. That’s double the amount from last year.
Currently, Roku is gathering original programming, with new additions coming from Quibi and the producer of This Old House. As Roku’s original programming is free and ad-supported, this will increase ad revenue even more, as the streaming provider will appeal to more customers.
Roku offers access to 50 subscription-based streaming services, as well as hundreds of channels that appeal to a wide variety of audiences. Streaming devices start at $29.99.