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ROKU Announces Season 3 of Roku Originals, Expands Portfolio

Zacks Equity Research
·3-min read
Zacks Industry Outlook Highlights like Netflix, Warner Bros. Discovery, Fox and Roku

Roku ROKU announced that the second season of Chrissy’s Court, a Roku Originals, during its opening weekend, broke all U.S viewership records for unscripted Roku Originals programming.

The premiere of Chrissy’s Court season two delivered four times the audience of its season one premiere.

In the opening weekend itself, season two of Chrissy’s Court drew in more unique views than any other Roku Originals released before. This made the series the #1 unscripted Roku Original premiere of all time.

It also became the top video-on-demand program on The Roku Channel in the United States, based on unique views, in the first week of its opening.

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Additionally, Roku announced that the third season of the popular series would hit the screen on Oct 21, 2022, exclusively on the Roku Channel.

Roku, Inc. Price and Consensus

 

Roku, Inc. price-consensus-chart | Roku, Inc. Quote

 

Expanding Content Offerings To Boost User Engagement

The Roku Channel is one of the biggest revenue generators of Roku’s platform business. Along with some content that it licenses on its own, The Roku Channel also aggregates content from other ad-supported media companies.

The Roku Channel is witnessing a surge in premium subscription signups, which is a major positive. It has also been focused on expanding the global footprint of the service.

Roku launched its all-new Spanish language streaming hub, Espacio Latino, on The Roku Channel for the Hispanic audiences in the United States. Roku Originals will be available on the free streaming platform.

Roku also expanded its advertising business to Mexico this year. The expansion enables brands and content providers to reach more consumers through ad-supported content on The Roku Channel.

The availability of third-party streaming channels on the Roku platform, including Disney+, Paramount+, Amazon AMZN Prime Video, AppleTV+, and Netflix, among others and continued investments in The Roku Channel have significantly contributed to engagement growth and strengthened the company’s brand.

Roku has been riding on distribution agreements to expand the content offerings on its platform. Roku, in partnership with Warner Bros. Discovery WBD, launched discovery+, the latter’s streaming service, as a premium subscription on The Roku Channel.

Warner Bros. Discovery’s discovery+ offers 70,000 episodes of current and classic shows from a portfolio of networks and more than 200 discovery+ original titles and hundreds of hours of exclusive content, which will be available to Roku subscribers.

Roku also extended its distribution deal with Amazon. Per the agreement, Prime Video and IMDB TV content will continue to be available on Roku’s Channel Store.

The deal was timed appropriately since Prime Video recently became the exclusive hub of NFL’s Thursday night football games. This will help Roku boost its user base, thereby driving the top line.

This Zacks Rank #3 (Hold) company also entered into a multi-year theatrical output with Lionsgate (LGF.A), beginning with the latter’s 2022 theatrical releases.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Per the Lionsgate-Roku deal, The Roku Channel will have two separate windows for each film streaming. The first window will provide Roku with the exclusive rights to stream its upcoming film slate for a limited time period, following its release on Lionsgate’s STARZ.

In Roku’s second window, the Lionsgate theatrical releases will return on the channel with a flexible timeline.

The distribution deals come at a time when streaming video consumption is on the rise. Roku is looking to make continued smart TV share gains from this trend. It is benefiting from advertising spend reallocation towards TV streaming as marketers accelerate their shift from traditional TV into TV streaming. Roku is also gaining from growth in advertising, driven by monetized video ad impressions on the increasing popularity of The Roku Channel.


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