ROKU, INC (ROKU)

Roku, Inc. operates the leading TV streaming platform in the United States, Canada, and Mexico by hours streamed. The company pioneered TV streaming and aims to be the global platform that connects viewers, content partners, and advertisers. Its foundation is the Roku TV OS, an operating system purpose built for TVs and designed to run on low-cost hardware. It powers Roku streaming devices and TVs made by licensed partners. Roku follows a three-phased model of growing scale, engagement, and monetization. Streaming Hours on the platform rose from 127.1 billion in 2024 to 145.6 billion in 2025, and the platform has more than 90 million Streaming Households globally.

Roku reports two segments. The Devices segment earns revenue from Roku streaming players, Roku-made TVs (Select, Plus, and Pro Series), Roku TV smart projectors, smart home products and services (cameras, video doorbells, lights, plugs, and a home monitoring system, some sold with subscription plans), audio products, and accessories. Roku also licenses the Roku TV OS and smart TV reference designs to TV OEMs. The Platform segment earns revenue from digital advertising (direct and programmatic video ads, ads integrated into the UI, and related services) and from streaming services distribution, including subscription and transaction revenue shares, Premium Subscriptions, and branded app buttons on remote controls. Roku also operates owned streaming services: The Roku Channel (80,000+ movies and shows, 500+ FAST channels, and Premium Subscriptions), Howdy (an ad-free SVOD service launched in August 2025 at $2.99 per month), and Frndly TV (acquired in May 2025, with 50+ live channels, on-demand video, and cloud DVR). It also produces Roku Originals. The Home Screen, an AI-powered content row, and a Sports Experience help viewers find content.

Roku serves viewers, content partners, and advertisers. Content partners distribute and monetize SVOD, vMVPD, ad-supported (AVOD and FAST), and TVOD apps, using Roku's billing, promotion, and analytics tools. Advertisers range from SMBs to enterprises and can buy through direct insertion orders, DSP partners, or the self-service Roku Ads Manager. Formats include in-stream video, native display ads, destination sponsorships, and action ads, with partners such as Walmart, Shopify, and Instacart. In the U.S., products are sold mainly through retailers such as Best Buy, Target, Walmart, and Amazon, which together accounted for 81% of 2025 Devices revenue. Roku devices are available in more than 15 countries, with expansion in the UK, Mexico, Brazil, and other parts of Latin America. Business is seasonally strongest in the fourth quarter.

Roku combines in-house research and development with outsourced development and manufacturing partners and is investing in AI and machine learning. Contract manufacturers, original design manufacturers, and other vendors build its products in China, Southeast Asia, Brazil, and Mexico, without obligations to supply specific quantities or prices. Products ship to third-party warehouses and then to retailers, distributors, and consumers. The company is subject to privacy, data security, and consumer protection regulation in the U.S. and abroad. The text does not state its competitors or headquarters.