While ad sales could take a hit in the short-term, CEO Steve Louden says the coronavirus outbreak “will accelerate the trends towards streaming in the long-run”
There was something for investors to both smile and cringe at when Roku reported its Q1 earnings on Thursday.
On the one hand, the company, best known for its streaming players, continued to see viewers spend more time than ever streaming content. Thanks in part to widespread stay-at-home orders, Roku said its viewers watched 13.2 billion hours of content during Q1 — up 49% from the same time last year, and equivalent to each active account watching 3.75 hours of content per day. That’s a lot of streaming. Overall, Roku added 2.9 million new accounts, putting the company on the verge of hitting 40 million active accounts overall.