Smart TV and streaming resource Roku issued its Q1-2023 financial report showing the number of active accounts climbed by a net of 1.6 million from Q4-2022 for a total of 71.6 million.
The company said The Roku operating system was again the top-selling smart TV OS in the United States, with 43% TV unit share.
In the first quarter net revenue was $741 million, up 1% year over year (YoY).
Global Roku users streamed 25.1 billion hours (up 4.2 billion hours YoY) for a record high of 3.9 streaming hours daily per active account, the company said.
In other details from the period, the company said platform revenue fell 1% YoY to $635 million, while gross profit fell 7% to $338 million. Average Revenue Per User (ARPU) was was down 5% YoY to $40.67.
In the period, the company launched its first Roku branded Roku TVs in the United States through an exclusive distribution arrangement with big box chain Best Buy.
Roku confirmed to HD Guru that both models in both its Plus and Select Roku TV series build in support for the open AV1 streaming codec developed by AOMedia. The codec is gaining support with major streaming services including Netflix and YouTube.
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In other news, Roku said it has agreed to a partnership with North American grocery technology company Instacart to offer consumer-packaged goods (CPG) advertisers tools to make TV advertising more relevant and performance-driven in the streaming space.
Under the partnerhsip, Roku viewership data will be joined with insights from Instacart to help marketers measure product purchases made in Instacart after viewing an ad on the Roku platform. Matching the data with Roku’s first-party data will enable to quantify the effectiveness of streaming TV advertising. The companies said customer data from Instacart and Roku will remain secure.
“Our goal is to help marketers get more of what they love in TV,” stated Alison Levin, Vice President of Ad Revenue and Marketing Solutions, Roku. “Our partnership with Instacart makes it easier to measure actual return on advertising spend in e-commerce and meet consumers where they are – streaming TV.”
The Instacart Marketplace includes more than 1,100 retail banners and more than 80,000 stores in North America. With Instacart Ads brands can connect directly with consumers at the point of purchase online.
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By Greg Tarr
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