Roku Global Accounts Rise 17% In 2022

Streaming distribution platform Roku says its global active accounts have grown by 17% year-over-year to now total 70 million.

It also has seen an increase of 19% in streaming hours, to 87.4 billion for the full year.

For the fourth quarter alone in 2022, Roku says it had 23.9 billion streaming hours, compared to 21.9 billion in the previous third-quarter period.

Roku’s stock was down 2.2% to $41.43 in early morning Thursday trading.

In July 2022, Roku warned of “a significant slowdown in TV advertising spend due to the macro-economic environment," which it said "pressured our platform revenue growth.” Since that period, Roku stock has dropped 55%.

At the current Consumer Electronics Show in Las Vegas, Roku announced its first ever TV sets designed and manufactured by Roku, which will be available in the U.S. in the Spring 2023. Previously, it had co-branded TV sets made by other TV set manufacturers.

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In Q3, Roku’s total net revenue increased 12% year-over-year to $761 million. Platform revenue -- which consists of revenue from advertising and carriage deals from apps carried on its service -- was up 15% year over year to $670 million.

Income loss from operations was $147 million in the period.

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