In a surprising move, Roku has confirmed plans to acquire Frndly TV. While there are often rumors or rumblings surrounding a purchase, this appears to be a deal that has very much been kept under wraps.
According to Roku, the purchase of Frndly TV is part of its “ongoing commitment to enhance the Roku Experience by delivering quality content Roku viewers love at an affordable price.”
“Frndly TV’s impressive growth and expertise in direct-to-consumer subscription services make it a compelling addition to Roku,” said Anthony Wood, Founder and CEO of Roku, Inc.
The deal is expected to close later this quarter and won’t result in any immediate changes to the way in which Frndly TV operates, according to the announcement. This includes the live TV service remaining available on all currently supported platforms and devices, including Amazon Fire TV, Android TV, Google TV, Apple TV, Samsung, Vizio, and mobile (Android, iOS).
Even though Frndly TV will remain widely available, it is probably safe to assume that we will see much tighter integration between Frndly TV and Roku in the future.
“This acquisition supports our focus on growing platform revenue and Roku-billed subscriptions, with a live content offering our users love at an industry-leading price point,” Wood added.
Along with the general experience, there doesn’t look like there will be any immediate changes within Frndly TV either, with the two companies confirming that the Frndly TV team will stay on after the transaction closes.
“We’re incredibly excited to join Roku and continue our mission to provide customers feel-good, quality entertainment as the most affordable live TV subscription streaming service in America,” said Andy Karofsky, Frndly TV CEO and Co-Founder.
Compared to other live TV streaming services, Frndly TV is a significantly more affordable solution, with plans starting as low as $8.99 a month.
“Roku’s pioneering role in streaming and its longstanding commitment to customers aligns perfectly with our strategic vision. We believe this combination will help us accelerate subscription growth, given the alignment in core customer demographics and Roku’s leadership position in the connected TV ecosystem,” said Karofsky.
In spite of the low price, Frndly TV subscribers get access to more than 50 live TV channels, including A+E, Hallmark Channel, The History Channel, MeTV, Lifetime, Hallmark Mystery, Game Show Network, Great American Family, ION, and The Weather Channel among others.
