Roku provided its latest quarterly results this week, confirming the company ended the fourth quarter, and 2024 as a whole, with close to 90 million Streaming Households. The company also reported a healthy increase in the number of streaming hours for the quarter and year.
At the end of 2023, Roku reported a total of 80 million Streaming Households (Active Accounts at the time). With 89.8 million now reported for the close of the fourth quarter of 2024, the company managed to add 9.8 million throughout last year.
On a quarter-over-quarter basis, Roku added around 4.3 million. Roku previously reported a total of 85.5 Million Streaming Households for the end of the third quarter of 2024.
In terms of streaming hours, these totaled 127.1 billion for 2024 as a whole. Once again, this was up 21.1 billion on the 106 billion hours reported for the whole of 2023.
On a quarterly basis, Roku reported a total of 34.1 billion streaming hours for the fourth quarter of 2024. Once again, this was up on the 32 billion reported for the third quarter of 2024, and up 5 billion on the 29.1 billion reported for the fourth quarter of 2023.
With streaming households and streaming hours both up on the year before, it is not too surprising that Roku also reported an increase in revenue as well. Roku closed out the year with $4.1 billion in total net revenue, an 18% increase on the year before.
Platform revenue appeared to account for the largest chunk of the total revenue, with platform revenue totaling $3.5 billion for the year. This also represented an 18% year-over-year increase, or 15% when excluding political ad spend.
On a quarterly basis, Roku reported more than $1 billion in revenue during the quarter, up from the $908 million reported for the third quarter of 2023, and up from the $829 million reported for the fourth quarter of 2023.
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