Roku has praised the performance of its AVOD service as the company continues to grow its platform business.
Announcing its Q1 2022 results, Roku said that revenues at the platform unit grew 39% year-over-year to US$365 million. This unit houses the company’s AVOD service, The Roku Channel, which earlier this week secured a major content output deal with Lionsgate.
The AVOD was a top 5 channel on the Roku platform in the US by Active Account reach and, for the first time, by Streaming Hour engagement.
Roku added 1.1 million incremental Active Accounts to reach 61.3 million by the end of Q1. This is up 14% year-over-year. Streaming hours also grew significantly, with users consuming 20.8 billion hours of streamed content in Q1 – up from 19.5 billion at the end of 2022.
Both of these factors contribute to an increasing ARPU – up 34% year-over-year to US$42.91 in Q1.
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