Roku is having a really great 2018 as Roku has seen a huge jump in new users and revenue. Now we are learning that Roku is also seeing a huge jump in hours streamed.
According to Roku, the number of hours streamed in the 3rd quarter of 2018 jumped 63% to 6.2 billion hours streamed. That works out to over 707,762 years worth of stream in just 3 months. That is a crazy amount of growth for Roku in just a year.
The good news didn’t stop there. In their letter to shareholders, Roku said “Operating trends remain strong. We ended Q3 2018 with 23.8 million active accounts, up 43% year-over-year, with more than half of new accounts coming from licensed sources, primarily Roku TVs. Roku user engagement increased this quarter with our users streaming 6.2 billion hours, up 63% year-over-year. Q3 trailing 12-month ARPU increased 37% year-over-year to a record $17.34 .”
Roku also announced that more than one in four smart TVs sold in the United States are Roku TVs. With all this news Roku saw gross profit up 58% year over year to $79 million.
Roku finished off the 3rd quarters earning letter to investors with a statement from Roku’s Founder and CEO Anthony Wood. “We are just starting to witness the massive transition of TV viewing and TV advertising to streaming. Roku is leading the way on the technology front with an operating system that is purpose-built for TV – versus more heavyweight mobile operating systems – and innovative services like The Roku Channel. According to company reports, the largest US cable and satellite TV services together have lost about 2 million linear TV subscribers so far this year – and about 4 million since the end of 2016. The early data suggests that Q3 could be the industry’s highest quarter yet for subscriber losses, while at the same time, user growth on our platform remains strong. The way TV content and advertising are delivered is evolving rapidly and we believe our purpose-built scalable solution is well positioned to be a catalyst for the transition that is underway.”
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