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Roku had 43 million active accounts at the end of Q2, marking yet another quarter where the number of active accounts has grown and during a time where the platform has come under heightened criticism due to the lack of availability of Peacock and HBO Max.
Roku is one of the most popular streaming platforms in the United States and that appears to be unlikely to change anytime soon. Over time, the platform has not only grown in terms of the number of active accounts, but also in features and integrations. The most notable of which has been the addition of The Roku Channel which offers users access to a selection of free and paid content.
As part of its latest quarterly release, Roku confirmed that it added 3.2 million active accounts in the second quarter of 2020, bringing the overall number up to 43 million. The company also confirmed that overall revenue totaled $356.1 million. Of that figure, platform revenue accounted for $244.8 million. Another important reveal was the 2.3 billion increases in streaming hours, taking the overall total for the quarter to 14.6 billion.
Roku grows in spite of Peacock and HBO Max
One of the major Roku talking points during the last quarter was the lack of HBO Max support. Similar to Fire TV, Roku has yet to agree a deal to carry HBO Max and that has directly impacted Roku users looking to stream WarnerMedia’s new service on their device. Since then, the exact same issue has surfaced for NBCUniversal’s Peacock streaming service.
However, the increase in active users so far suggests that the lack of support is not slowing down the platform’s growth. While an increase in 3.2 million during the last quarter is impressive enough, the real picture of Roku’s user growth becomes clear when looking over the longer term. For example, Roku closed out the second quarter of 2019 with 30.5 million active accounts. In the twelve months since then, it has added almost 13 million active accounts.
Likewise, the number of quarterly streaming hours have almost doubled since then, up from 8.8 billion in Q2 2019 to the 14.6 billion in Q2 2020. While the COVID-19 outbreak and subsequent stay-at-home orders are likely to have fueled streaming hours during the last three months, the pattern of streaming hours growth has been consistent over the last year.
While many continue to look to attribute blame for the Roku, Peacock and HBO Max situation, it is clear the Roku’s power as a platform continues to grow.