Roku finished the first quarter of 2023 with 71.6 million active accounts, an increase on both the quarter and year before. The popular device-maker also saw a healthy increase in the number of hours streamed during the quarter.
While the streaming market has been a little more chaotic in recent months and quarters, Roku is one of those businesses that has largely just continued to see growth in terms of the number of users. At the end of 2022, Roku has accumulated more than 70 million active accounts.
Now, three months later, Roku confirmed that it closed out the first quarter of this year with 71.6 million active accounts, an increase of 1.6 million compared to the previous quarter and an increase of just over 10 million when compared to the 61.3 million reported at the end of the first quarter of last year.
Streaming hours have followed somewhat of a similar story. The number of hours streamed in the first quarter of 2023 totaled 25.1 billion, according to the latest results, up 1.2 billion from the 23.9 billion at the end of 2022. This is also an increase of 4.2 billion from the 20.9 billion reported at the end of the first quarter of 2022.
In spite of the increases in the number of active accounts and streaming hours, Roku saw a decline in total net revenue in the first quarter when compared to the fourth quarter of last year.
While this is to be expected, due to the Holiday period typically being a very good time for Roku device purchases and new users, platform revenue decreased by 1 percent when compared to the first quarter of last year.