Roku’s Q2 revenue increases 42% annually to $356 million
Device manufacturer Roku saw its revenue increase 42% year-over-year to roughly $356 million, thanks to ongoing shelter-in-place orders accelerating the number of users creating new accounts and an unlikely increase in its ad business as the overall TV ad industry continues on a downturn.
The Los Gatos, California-based content aggregator and smart device manufacturer grew its advertising business in the second quarter despite the ongoing pandemic, and its monetized video ad impressions doubled year-over-year.
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There were 43 million new active Roku accounts added in the second quarter, a 41% annual increase from 30.5 million accounts added in second quarter 2019 — the largest net increase in active accounts in Roku’s history outside of a fourth-quarter holiday period, the company said.
Roku users streamed 14.6 billion hours of content this quarter, up from 2.3 billion hours this time last year. Roku said its average revenue per user was roughly $24.92 per account, up 18% annually.
“It’s really a function of consumers cutting and shaving the chord as a result of the pandemic, both as live television productions and sports stopped. Those were the main services that keep consumers in the traditional paid TV package,” Scott Rosenberg, Roku’s general manager of Roku’s platform business, told TheWrap. “Some (consumers) did it of financial necessity as well, paid TV is expensive… and that’s ultimately what we would attribute to the surge in active account growth as well as a surge in usage.”
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Despite consumer interest in newly-launched streaming apps Peacock from NBCUniversal and WarnerMedia’s HBO Max, Roku still hasn’t inked any deals to carry Peacock or HBO Max — as of now, neither app is available on a Roku device.
“It is our goal to carry these services, we look for a win-win relationship that will help new content providers get scale in OTT and get economics for Roku,” Rosenberg said during the earnings call. “We’re not always going to be first, but we think it’s achievable and we’re excited to be a new platform for these services.”
Chief executive Anthony Wood said during Roku’s earnings call that it had the largest share of users watching “Hamilton” when it was released on Disney+ fourth of July weekend. “We’re looking to do more of those types of deals,” Wood said, but he didn’t specify when consumers might be able to use HBO Max and Peacock on their Roku devices.
Rosenberg told TheWrap that Roku does stand to benefit from adding HBO Max and Peacock to its devices eventually, and said, “it’s a key part of our business model that we participate in the economics of the growth of our partner services, that’s ultimately how we invest back into the platform.
Roku’s monetized video advertising impressions doubled year-over-year in the second quarter and reported that its count of first-time ad clients was up 40% year-over-year. Its total net loss increased by roughly $33.8 million to $43.1 million according to the earnings report.
“The ad industry outlook remains uncertain for Q3 and Q4, and we believe that total TV ad spend will not recover to pre-COVID-19 levels until well into 2021,” Roku founder and CEO Anthony Wood said in an earnings statement Wednesday. “However, we remain confident in our ability to grow our ad business, albeit not as much as we would have expected prior to the pandemic, as marketers re-allocate spend and follow consumers in the shift to streaming.”
Roku’s stock price was down roughly 1.7% at $162.42 per share at market close on August 5.
Summer TV 2020: Premiere Dates for New and Returning Shows (Photos)
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The CW/HBO Max/Netflix/TNT
Summer is in full swing, and everyone is staying at home as much as possible to prevent the spread of COVID-19. Luckily, dozens of new and returning shows are premiering this summer. The list includes some big titles like "The Twilight Zone" and "The Umbrella Academy," plus original shows for new streaming services HBO Max and Peacock.
Also Read: Fall TV 2020: Every Broadcast Show Canceled, Renewed and Ordered – So Far (Updating)
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Showtime
Series: “The Chi” Net: Showtime Premiere: Sunday, June 21 Time: 9 p.m.
Also Read: Here’s the Fall 2020 TV Schedule for Broadcast Networks – So Far
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HBO
Series: “Perry Mason” Net: HBO Premiere Date: Sunday, June 21 Time: 9 p.m.
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Paramount Network
Series: “Yellowstone” Net: Paramount Network Premiere Date: Sunday, June 21 Time: 9 p.m.
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AMC
Series: “NOS4A2” Net: AMC/BBC America Premiere Date: Sunday, June 21 Time: 10 p.m.
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TLC
Series: "B90 Strikes Back!" Net: TLC Premiere Date: Monday, June 22 Time: 8 p.m.
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OWN
Series: “Greenleaf” Net: OWN Premiere Date: Tuesday, June 23 Time: 9 p.m.
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TBS
Series: "Celebrity Show-Off" Net: TBS Premiere Date: Tuesday, June 23 Time: 10 p.m.
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DC Universe/HBO Max
Series: “Doom Patrol” Net: HBO Max/DC Universe Premiere Date: Thursday, June 25
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HBO Max
Series: “Search Party” Net: HBO Max Premiere Date: Thursday, June 25
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CBS All Access
Series: “The Twilight Zone” Net: CBS All Access Premiere Date: Thursday, June 25
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Netflix
Series: "Dark" Net: Netflix Premiere Date: Saturday, June 27
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Showtime
Series: “Black Monday” Net: Showtime Premiere Date: Sunday, June 28 Time: 8 p.m.
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HBO
Series: “I’ll Be Gone in the Dark” Net: HBO Premiere Date: Sunday, June 28 Time: 10 p.m.
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Netflix
Series: "Unsolved Mysteries" Net: Netflix Premiere Date: Wednesday, July 1
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We TV
Series: “Marriage Boot Camp” Net: We TV Premiere Date: Thursday, July 2 Time: 9 p.m.
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BET+
Series: "Carl Weber's The Family Business" Net: BET+ Premiere Date: Thursday, July 2 Time: 9 p.m.
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Netflix
Series: “The Baby-Sitters Club” Net: Netflix Premiere Date: Friday, July 3
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Amazon Prime Video
Series: “Hanna” Net: Amazon Prime Video Premiere Date: Friday, July 3
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Showtime
Series: “Outcry” Net: Showtime Premiere Date: Sunday, July 5 Time: 10 p.m.
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Netflix
Series: "Stateless" Net: Netflix Premiere Date: Wednesday, July 8
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CBS
Series: “Tough as Nails” Net: CBS Premiere Date: Wednesday, July 8 Time: 9 p.m.
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HBO Max
Series: “Close Enough” Net: HBO Max Premiere Date: Thursday, July 9
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HBO Max
Series: “Expecting Amy” Net: HBO Max Premiere Date: Thursday, July 9
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USA
Series: "Cannonball" Net: USA Premiere Date: Thursday, July 9 Time: 8 p.m.
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USA
Series: "Chrisley Knows Best" Net: USA Premiere Date: Thursday, July 9 Time: 9 p.m.
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Apple TV+
Series: “Greatness Code” Net: Apple TV+ Premiere Date: Friday, July 10
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Apple TV+
Series: "Little Voice" Net: Apple TV+ Premiere Date: Friday, July 10
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Starz
Series: “P-Valley” Net: Starz Premiere Date: Sunday, July 12 Time: 9 p.m.
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Peacock
Series: “Brave New World” Net: Peacock Premiere Date: Wednesday, July 15
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Peacock
Series: “The Capture” Net: Peacock Premiere Date: Wednesday, July 15
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Peacock
Series: “In Deep With Ryan Lochte” Net: Peacock Premiere Date: Wednesday, July 15 Time: N/A
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Peacock
Series: “Intelligence” Net: Peacock Premiere Date: Wednesday, July 15
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Lifetime
Series: "Married at First Sight" Net: Lifetime Premiere Date: Wednesday, July 15 Time: 8 p.m.
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ABC
Series: "United We Fall" Net: ABC Premiere Date: Wednesday, July 15 Time: 8 p.m.
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Netflix
Series: "Indian Matchmaking" Net: Netflix Premiere Date: Thursday, July 16 Time: N/A
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The CW
Series: "Killer Camp" Net: The CW Premiere Date: Thursday, July 16 Time: 8 p.m.
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Netflix
Series: "Cursed" Net: Netflix Premiere Date: Friday, July 17 Time: N/A
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Amazon Prime Video
Series: "Absentia" Net: Amazon Prime Video Premiere Date: Friday, July 17
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TNT
Series: "The Alienist: Angel of Darkness" Net: TNT Premiere Date: Sunday, July 19 Time: 9 p.m.
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Series: "The Andy Cohen Diaries" Net: Quibi Premiere Date: Monday, July 20 Time: N/A
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Series: "Die Hart" Net: Quibi Premiere Date: Monday, July 20 Time: N/A
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Netflix
Series: "Love on the Spectrum" Net: Netflix Premiere Date: Wednesday, July 22 Time: N/A
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Comedy Central
Series: "Corporate" Net: Comedy Central Premiere Date: Wednesday, July 22 Time: 10:30 p.m.
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HBO
Series: “Room 104” Net: HBO Premiere Date: Friday, July 24 Time: 11 p.m.
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Syfy
Series: "Wynonna Earp" Net: Syfy Premiere Date: Sunday, July 26 Time: 10 p.m.
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Epix
Series: "Helter Skelter: An American Myth” Net: Epix Premiere Date: Sunday, July 26 Time: 10 p.m.
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Series: "Don't Look Deeper" Net: Quibi Premiere Date: Monday, July 27 Time: N/A
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Netflix
Series: "Last Chance U" Net: Netflix Premiere Date: Tuesday, July 28
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HBO Max
Series: “The Dog House" Net: HBO Max Premiere Date: Thursday, July 30
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Netflix
Series: "Transformers: War for Cybertron Trilogy" Net: Netflix Premiere Date: Thursday, July 30
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HBO Max
Series: “The Frayed” Net: HBO Max Premiere Date: Thursday, July 30
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Disney+
Series: “Muppets Now” Net: Disney+ Premiere Date: Friday, July 31
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Netflix
Series: “The Umbrella Academy” Net: Netflix Premiere Date: Friday, July 31
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Bravo
Series: "Real Housewives of Potomac" Net: Bravo Premiere Date: Sunday, Aug. 2 Time: 8 p.m.
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The CW
Series: "Taskmaster" Net: The CW Premiere Date: Sunday, Aug. 2 Time: 8 p.m.
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The CW
Series: "Fridge Wars" Net: The CW Premiere Date: Sunday, Aug. 2 Time: 9 p.m.
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Quibi
Series: "The Fugitive" Net: Quibi Premiere Date: Monday, Aug. 3
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MTV
Series: "Catfish" Net: MTV Premiere Date: Wednesday, Aug. 5 Time: 8 p.m.
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The CW
Series: "Coroner" Net: The CW Premiere Date: Wednesday, Aug. 5 Time: 9 p.m.
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CBS All Access
Series: "Star Trek: Lower Decks" Net: CBS All Access Premiere Date: Thursday, Aug. 6 Time: N/A
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Netflix
Series: "Selling Sunset" Net: Netflix Premiere Date: Friday, Aug. 7
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Series: "Surviving Jeffrey Epstein" Net: Lifetime Premiere Date: Sunday, Aug. 9 Time: 8 p.m.
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Quibi
Series: "Mapleworth Murders" Net: Quibi Premiere Date: Monday, Aug. 10
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HBO
Series: "Hard Knocks" Net: HBO Premiere Date: Tuesday, Aug. 11 Time: 10 p.m.
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Apple TV+
Series: "Ted Lasso" Net: Apple TV+ Premiere Date: Friday, Aug. 14
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Amazon Prime Video
Series: "World's Toughest Race: Eco-Challenge Fiji" Net: Amazon Prime Video Premiere Date: Friday, Aug. 14
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HBO
Series: "Lovecraft Country" Net: HBO Premiere Date: Sunday, Aug. 16 Time: 9 p.m.
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The CW
Series: "Dead Pixels" Net: The CW Premiere Date: Tuesday, Aug. 18 Time: 8 p.m.
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Netflix
Series: "Lucifer" Net: Netflix Premiere Date: Friday, Aug. 21
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HBO Max
Series: "Ravi Patel's Pursuit of Happiness" Net: HBO Max Premiere Date: Thursday, Aug. 27 Time: N/A
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Showtime
Series: “Love Fraud” Net: Showtime Premiere Date: Sunday, Aug. 30 Time: 9 p.m.
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NBCUniversal
Series: "A.P. Bio" Net: Peacock Premiere Date: Thursday, Sept. 3 Time: N/A
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Netflix
Series: "Away" Net: Netflix Premiere Date: Friday, Sept. 4 Time: N/A
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Amazon Prime Video
Series: "The Boys" Net: Amazon Prime Video Premiere Date: Friday, Sept. 4 Time: N/A
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Hulu
Series: "Woke" Net: Hulu Premiere Date: Wednesday, Sept. 9 Time: N/A
Here’s when 75 broadcast, cable and streaming series debut and come back
Summer is in full swing, and everyone is staying at home as much as possible to prevent the spread of COVID-19. Luckily, dozens of new and returning shows are premiering this summer. The list includes some big titles like "The Twilight Zone" and "The Umbrella Academy," plus original shows for new streaming services HBO Max and Peacock.
Also Read: Fall TV 2020: Every Broadcast Show Canceled, Renewed and Ordered – So Far (Updating)
Samson Amore
Reporter • samson.amore@thewrap.com • Twitter: @Samsonamore