2024-07-02 23:11:00 ET
Summary
- Roku's market share in TV usage is growing, with increased streaming hours and ad-supported content consumption.
- The company is making strides in opening up its ad platform to more advertisers, potentially driving higher ad demand.
- Despite trading at low forward sales multiples, Roku's potential for sales growth and market share gains make it a buy in H2 of 2024.
Investment Thesis
Among the myriad of user preferences and consumer behaviors that have rapidly changed in the last few years, user consumption of TV content and online media has been at the forefront, with inflation being one of the primary factors forcing this rapid shift in media consumption behavior. Expeditious price hikes by many online streaming platforms have given way to the rise of free ad-supported streaming platforms like Roku’s Roku Channel ( ROKU ) or TubiTV by Fox (NASDAQ: FOX )....
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Roku: Well Positioned For H2 2024 After Market Share Gains