The verdictīoth of these tech companies have compelling growth strategies, and I am a shareholder of both Roku and fuboTV. In other words, the company has plenty of room to grow its business, and Roku's solid competitive position should continue to power strong performance in the years ahead. And as more of that budget shifts away from linear TV, Roku's addressable market should get much bigger. In 2020, revenue surged 58% to reach $1.8 billion, and the company generated positive free cash flow of $65.8 million.Įven so, advertisers spend roughly $70 billion on TV ads in the United States each year, according to eMarketer. Roku's ability to drive account growth and user engagement has translated into strong financial performance. And the company continues to add new accounts and boost user engagement (streaming hours) at a rapid pace. Roku is the leading streaming platform in the United States, both in terms of hours streamed and active users. So far, the company's growth strategy has proven highly effective. It plans to make that content available to viewers through The Roku Channel in 2021, furthering its value proposition to consumers. More recently, the company purchased failed streaming service Quibi's content for an undisclosed amount, giving Roku exclusive access to more than 75 shows.
It also launched The Roku Channel mobile app last year, giving users direct access to licensed programming from their iPhones or Android mobile devices. Last year, in an effort to increase ad inventory, the company expanded its offering of linear TV, which now includes over 100 channels, and launched its Live TV Channel Guide. To that end, the company offers a range of ad-supported content, including TV shows and movies licensed for The Roku Channel. Roku primarily monetizes its platform through advertisements.
Its platform aggregates ad-supported and premium streaming content, allowing viewers to watch their favorite TV shows and movies from one location. Roku has created an ecosystem that benefits consumers, content publishers, and marketers.
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