Roku (ROKU - Free Report) unveiled a new streaming player lineup in addition to upgrades made in Roku Express and Roku Ultra. The company also announced new streaming stick devices and an upgrade to its operating system.
The upgraded Roku Express priced at $29.99 is 10% sleeker than its predecessor and offers HD streaming. Additionally, upgrades to Roku Ultra include 4K and HDR picture quality, faster channel launch and a customizable remote for users with shortcut buttons to enable faster navigation. The device is priced at $99.99.
Notably, the company also unveiled Express+ priced at $39.99 and Ultra LT priced at $79.99. These streaming devices are retailer-exclusive versions for Walmart (WMT - Free Report) .
Moreover, Roku’s entry-level 4K player, Roku Premiere, will also be sold at $39.99 with a standard remote.
Streaming Stick Devices
Roku unveiled Streaming Stick+ and Streaming Stick+ HE, both priced at $59.99 and are 4K-ready. The Streaming Stick+ will offer voice remote with TV controls.
Notably, Streaming Stick+ HE will be sold exclusively at Best Buy including the enhanced Roku Voice Remote with a headphone jack.
Upgraded OS 9.2 Details
The upgrade comes with new a search and discovery feature called Roku Zones. Feature additions also include an enhanced Roku voice functionality and a “Tips & Tricks” channel with helpful how-to videos.
Moreover, voice-controlled sleep timers and a fun feature that lets you search for movie quotes by voice have been added on Roku TV.
International Expansion to Aid Top Line
Notably, Roku is expanding its streaming player line-up internationally in Canada, the UK, the Republic of Ireland and select countries in Latin America. Roku Express, Roku Premiere and Roku Streaming Stick+ IS are expected to be available in the coming weeks.
Notably, Roku also announced that users in Canada will be able to access 14 live linear channels on The Roku Channel including America’s Funniest Home Videos, Law & Crime, TMZ, Fail Army, Tastemade and Pet Collective to name a few.
Intensifying Competition a Dampener
The video streaming market is getting crowded with Comcast (CMCSA - Free Report) and Facebook (FB - Free Report) recently unveiling their respective plans to jump into the booming space. According to Grand View Research, the video streaming space is expected to be worth $124.57 billion by 2025, witnessing a CAGR of 19.1% between 2018 and 2025.
The solid growth prospects have attracted prominent tech and media companies like Apple, AT&T and Disney to the space, which is already seeing intense competition among incumbents including Netflix, Hulu, Amazon, and Roku.
Moreover, Comcast’s plan to offer Internet users free Xfinity Flex streaming media set top box compatible with other services and Facebook’s Portal TV announcement are expected to hurt Roku’s growth prospects in the near term.
Roku currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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