Roku’s Revenue Surges 58% on Pandemic-Fueled Streaming Boom
Customers and marketers shift more of their attention away from TV and toward digital media
A person about to use the Quibi app on a smart phone in Los Angeles. Roku said it is expanding its library with shows from Quibi.
Roku Inc. reported a 58% increase in revenue during the holiday quarter, as the streaming-media service continued to benefit from customers watching more entertainment while stuck at home during the Covid-19 pandemic.
“We think the pandemic has accelerated, and permanently changed the curve on, the shift to streaming,” Roku Chief Executive Anthony Wood said Thursday.
Consumption of at-home streaming video entertainment has boomed during the pandemic as consumers have diverted…
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