Roku Inc. (NASDAQ:ROKU) has announced its interim estimated data for Q4 2020 in which it hit a milestone of 51.2 million active accounts. The increase implies that the company added around 14 million accounts last year.
Roku reports 55% YoY increase in streaming hours in Q4 2020
In the fourth quarter, the company reported an estimated 17 billion steaming hours to bring 2020’s total to 58.7 billion streaming hours. This represents a 55% YoY increase in Q4 2020 and the full year. Currently, there is a growing TV streaming trend and customers are watching content they love. According to Roku’s cord-cutting study, in 2020 almost a third of US households had cut traditional pay-TV. eMarketer has projected that in the next three years less than half of Americans will be using traditional pay-TV service.
Anthony Wood, the company’s CEO, stated that they are delighted to have over 50 million US households turning to ROKU for streaming content. Wood added that currently the world is shifting to streaming and the company is looking forward to helping content publishers, advertisers, TV manufacturers, and viewers to succeed going forward.
Roku Channel most-watched in December
Over the past year, the Roku Channel gained a considerable audience and in December 2020 it was the most viewed Channel. Top searches on the platform included the holiday movie Elf. In the fourth quarter, the Roku Channel reached more households with around 61.8 million viewing the channel which is almost double the numbers recorded in 2019. Roku defines active accounts as those that have streamed content in 30 days with a single account likely to stream on several devices within a household.
Roku is currently taking on Amazon in terms of dominance in the streaming segment. Recently Amazon indicated that it had hit over 50 million active users on the Fire TV devices. Amazon revealed this huge milestone as it rolled out a Fire TV user interface update. Roku expects to reports its final Q4 2020 and full-year operating and financial results in February.