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Roku Is In Sales Talks
Let the bidding begin // Illustration by Kate Walker
Roku, the entertainment company behind a sprawling streaming platform and hardware business, is reportedly up for sale.
The Big Picture: Consolidation is heating up across every corner of the entertainment industry. While Roku was the first to make a streaming device that could turn any TV into a smart one, Apple and Amazon have since dominated the conversation with their own offerings. Yet Roku has quietly endured. With fresh investment, the company has plenty of room to grow into an even stronger competitor in today’s streaming ecosystem.
Behind The Scenes: Roku hopes a team-up will unlock its next stage of growth.
The company is already in talks with “at least one US media company about a potential combination,” according to Bloomberg.
On the news, Roku’s shares catapulted to a high of 24%, pushing the company’s valuation to $21 billion.
Still, there’s no guarantee that a deal will ultimately be finalized.
Closing Thoughts: While Roku may be best known for its streaming devices, it actually makes most of its money from selling digital ads and distributing streaming services like Netflix and HBO Max. With over 100 million households using the platform, the segment generated a whopping $4.1 billion in revenue last year— 87.5% of the company’s total haul.
The company is also investing in original content through The Roku Channel, giving any potential buyer a platform to build on.
Coming Soon: It’s possible that a roll-up cable company like Versant could try to acquire Roku, using it to give its declining network assets a next-gen way to generate revenue.
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.