Roku Posts Record Q1 Revenue, Active Accounts, Minutes Streamed

Roku May 6 reported it grew first-quarter (ended March 31) active accounts 35% year-over-year to a record 53.6 million, from 39.8 million accounts, driven by sales of players and Roku TV models in both the U.S. and international markets. Roku users streamed a record 18.3 billion hours, an increase of 49% year-over-year from 12.3 million. Prior to lapping COVID-19 stay-at-home orders in mid-March, both active account and streaming hour year-over-year growth rates were trending ahead of those in Q4 2020.

On The Roku Channel, the streaming media device manufacturer drove another quarter of record growth, reaching U.S. households with an estimated 70 million people. Account reach and streaming hours on the AVOD platform more than doubled year-over-year — a growth rate that is over twice as fast as the overall Roku platform.

“Our exceptional performance in Q1 demonstrates how our business model serves consumers, content owners, and advertisers alike in the TV ecosystem,” founder/CEO Anthony Wood and CFO Steve Louden wrote in the shareholder letter. “Though there will be difficult COVID-19-related comparisons in 2021, we believe that the shift to streaming is inevitable. It will be global and will transform the way content is distributed and monetized.”

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