Roku Inc. (NASDAQ: ROKU) announced on Wednesday that it would be expanding its platform to include “Premium Subscriptions.” As a result, users will be able to watch both free ad-supported and paid premium entertainment in one easy-to-navigate interface, with personalized recommendations, where they can browse, trial and subscribe to popular services.
In addition to more than 10,000 free, ad-supported movies and TV episodes already available, the Roku Channel will soon offer users the option to add 25 or more Premium Subscriptions from providers such as Showtime, Starz and EPIX.
Premium Subscriptions will only be viewable within the Roku Channel. Additionally, search within the Roku Channel will be expanded, allowing users to easily search for keywords within the channel. The Roku Channel will make subscription streaming easy for users by providing one destination to watch premium entertainment from more than 25 providers with a single monthly bill and simple account management.
Rob Holmes, Vice President of Programming and Engagement, commented:
We’re focused on making it easy to find great entertainment of all types on the platform and adding Premium Subscriptions is a natural evolution for The Roku Channel. As a top five channel by active account reach, The Roku Channel is already a great source for free, ad-supported entertainment and provides significant user engagement. By making it easy for users to discover, subscribe to and watch Premium Subscriptions, we believe this offering will result in increased subscriptions and user engagement for our subscription partners and an even better user experience.
Shares of Roku were last seen up about 1% at $31.07, with a consensus analyst price target of $60.46 and a 52-week range of $26.30 to $77.57.