Roku Inc. (ROKU) quickly becomes viewer streaming service after the company reported for the fourth quarter data showing a double digit year over year jump in active accounts.
Roku reported that the number of active accounts peaked at 27 million in the fourth quarter, an increase of 40% from the same period last year.
Meanwhile, the number of streaming magazines that went into 68% year-over jumped to 7.3 billion hours. For the year, the company reported 24 billion streaming hours, an increase of 61% from 2017.
"Strongly active account growth and accelerating streaming hours point to consumers' growing enthusiasm for streaming, making Roku Americas largest and fastest growing TV streaming distribution platform" said Roku CEO Anthony Wood. "In 201
Roku has been aggressive with announcements last week. Last week, the company announced that it was up in its mobile Roku Channel with subscription to premium channels like Showtime, Starz and Epix.
"We focus on making it easy to find good entertainment of all types on the platform, and adding Premium Subscriptions is a natural development for The Roku Channel," said Rob Holmes, Rokus Vice President of Programming and Engagement.  Roku shares rose 25.3% to $ 42.28 on Monday.