Roku Inc. (ROKU), The streaming TV service provider, is bringing content from Amazon.com Inc.’s IMDb channel to its service. Before its acquisition by Roku, IMDb TV competed directly with the channel.
This is not the first time that Roku has partnered with one of its key competitors. From October 2020, Amazon Fire TV users can now stream video through the Roku platform. Roku will now offer IMDb TV to its subscribers. Through the deal, Amazon may be able to double its viewership. Fire TV, where IMDb TV is mostly available, is typically used by about 50 million customers per month.
Over 51 million users of the Roku platform will be able to watch Amazon’s streaming service. IMDb TV management announced that it would introduce a catalog of popular television shows and movies from different years.
As a result of social exclusion measures and most venues’ closure, Roku’s subscriptions increased by nearly 40% in 2020. Over the last year, the amount of time spent watching Roku content has increased by 55%. Based on company statistics, users watched 58.7 billion hours of streaming content during the year; 17 billion hours, or 29% of the total, were during the fourth quarter. IMDb TV’s success on the platform relies on these metrics since it is a free offer that is monetized through ads. Any of the companies have not yet released the financial details of the transaction.
Roku Inc.’s share price decreased by -0.28 percent at the most recent trading session, to close at $402.26. At the most recent session, 5.68 million shares exchanged hands, while the average trading volume remained at 5.25M shares. When assessing a stock’s current and prospective value, the 52-week high and low points are essential variables to keep in mind. Roku Inc. (ROKU) shares are falling -10.24% from the 52-week high point and flying high of 590.93% from the 52-week low point.