Roku Hits Q1 Streaming Slowdown, Gains Just 1.1 Million User Accounts
Posted: Sun May 01, 2022 6:20 pm
Streaming platform Roku saw revenue and user growth cool down in the first three months of 2022, as the company missed Wall Street expectations on the bottom line.
The company reported 61.3 million active accounts for the first quarter, up 14% year over year and a sequential gain of 1.1 million. That’s compared with 35% account growth in Q1 2021 when it netted 2.4 million accounts. Total hours streamed by Roku users in Q1 was 20.9 billion, also up 14%, versus a 49% uptick a year earlier.
Roku cited “the end of government stimulus payments that served to temporarily drive discretionary consumer spend in Q1 2021” for the slowdown in streaming accounts.[...] Continue reading @ variety.com
First Seen in Roku News @ 24/7 TVStreamin Headline News
The company reported 61.3 million active accounts for the first quarter, up 14% year over year and a sequential gain of 1.1 million. That’s compared with 35% account growth in Q1 2021 when it netted 2.4 million accounts. Total hours streamed by Roku users in Q1 was 20.9 billion, also up 14%, versus a 49% uptick a year earlier.
Roku cited “the end of government stimulus payments that served to temporarily drive discretionary consumer spend in Q1 2021” for the slowdown in streaming accounts.[...] Continue reading @ variety.com
First Seen in Roku News @ 24/7 TVStreamin Headline News