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ROKU Adds 17 New Channels to Its Free Streaming Lineup

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Roku Inc. (ROKU - Free Report) recently announced the addition of 17 new channels to the Live TV Channel Guide on the Roku Channel, its free streaming service. With the addition of the new channels, The Roku Channel is now home to over 200 free streaming channels.

The newest slate of channels arriving on its live guide includes CBC, El Rey, AccuWeather Now, FilmRise True Crime, Haunt TV, Real TV Madrid and IGN.

Moreover, the platform will add a dedicated channel for The Wiggles to mark the second anniversary of its Kids & Family experience, which was launched in 2019.

The expansion of the platform’s live TV programming adds to Roku’s growing efforts to offer original programming, which has also been expanding through this year since its acquisition of Quibi’s library.

Roku, Inc. Price and Consensus

Roku, Inc. Price and Consensus

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

Expanding Content Portfolio to Fend off Competition

This Zacks Rank #2 (Buy) company keeps innovating and adding new content to its portfolio to increase user engagements and attract consumers to its platform. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recently, Roku and Charter Communications (CHTR - Free Report) resolved a distribution snag that began last December over the Spectrum streaming app. The companies have reached a mutually beneficial agreement for the renewal of the Spectrum TV app, which is now available for download on the Roku platform.

The company also released a new slate of Roku Originals available to stream featuring 23 new titles for The Roku Channel, including four all-new premieres, available exclusively on The Roku Channel in the United States, Canada, and the U.K.

On Aug 13, Roku Channel debuted four all-new Roku Originals series – Eye Candy, Squeaky Clean, season 2 of Thanks a Million, and What Happens in Hollywood besides multi-Emmy nominated Mapleworth Murders.

In June, the company launched Roku Recommends, a weekly 15-minute entertainment show, wherein Roku helps consumers find movies and shows that are trending on the platform or what to watch next on the platform.

On May 13, Roku announced the debut of 30 Roku originals. The lineup features 30 titles, including award-winning series such as Die-Hart, #FreeRayshawn and Reno 911!.

The ability to access free and premium content on the same platform has been a huge attraction for subscribers. Consumers of the Roku platform now have more choices including Disney’s (DIS - Free Report) Disney+, Discovery+, HBO Max, Peacock, Netflix (NFLX - Free Report) and many more.

As of Jun 30, 2021, active accounts totaled 55.1 million, up 28% year over year. Along with this, a 19% year-over-year increase in the streaming hours propelled significant growth of 117.4% in platform revenues for the three months ended Jun 30, 2021.

This has attracted advertisers to its streaming platform and is expected to aid top-line growth in the near term.