ROKU Inc (ROKU) became the largest Video on Demand (VOD) provider in the US in 2020. ROKU may aim to maintain its leadership and spend on new content and advanced advertising technologies.
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Video streaming networks have been very successful in the past year. COVID-19 caused an increased dependency on video on demand since other forms of entertainment were inaccessible. But Roku ended up with the most subscribers to their channel. Management announced in 2020 that Roku Channel viewership was growing twice as fast as the ROKU stock’s platform as a whole.
This means the number of Roku channel subscribers has grown by more than 100%, with an increase in “active” subscribers of 39%. At the end of 2020, the ROKU stock reached approximately 63 million viewers from about 54 million at the end of the third quarter, a significant jump from the estimated 54 million. For comparison, the Fox-owned Tubi had 33 million subscribers, a 58 % increase YoY. Pluto TV’s monthly active users grew by 34 % in the US and worldwide by 80 %.
Marketer predicts that in 2021, Roku Inc.’s (ROKU) subscriber base will continue to grow in double digits, but the growth rate will be comparable to the competition. Tubi subscribers are expected to grow by 20 % and Pluto TV by 17 % this year, while Roku’s US subscriber base is forecast to grow by 19 % this year.
Content providers are trying to boost the quality and quantity of their content to attract new users. The growth in advertising volume is an important metric as well since it means the channel as a whole is growing in monetization. Among other things, Roku talks with content producers to provide additional content on the Roku Channel based on distribution agreements for premium streaming services.
There are opportunities for Roku in the ad market to compete with its competitors. The ROKU stock acquired Dataxu in 2019 and recently announced it would be purchasing Nielsen ad technology. Roku will be able to sell advertisements on its streaming service, in addition to other digital assets as well as traditional television. Marketers can use Roku to reach a broad audience.
Roku Inc. (ROKU) price started the day at $328.29, with a decrease of -1.09%. In the day, the stock rose to $338.01 and fell to $322.58 before settling in at $328.29 in the evening. Looking at it more long-term, ROKU posted a 52-week range of $79.38-$486.72.