Media

Roku Adds Peacock to Its Ever Expanding Platform

Roku Inc. (NASDAQ: ROKU) shares made a solid move higher on Monday after the company announced that it would be adding a new app to its platform. In this case, it’s NBC’s Peacock app.

Peacock has access to over 20,000 hours of on-demand movies and shows, as well as live news and sports from the NBC umbrella of media outlets. One thing Peacock offers is a free tier of premium content of 13,000 hours of current and classic movies and shows.

In addition to current season programming from NBC and Telemundo, Peacock customers have access to live sports like upcoming coverage of the Premier League.

For access to the entire Peacock app, Peacock Premium is available for $4.99 per month. Also, viewers may upgrade Peacock Premium to an ad-free tier for an additional $5 per month.

Roku’s management noted that audience demand for compelling content is fueling a surging shift to streaming for a majority of American households today. Also, the combination of Roku’s platform, which reaches roughly 100 million people, with NBCUniversal has the potential to grow the audience even more.

Some of the big name shows coming to the platform include: “Parks and Recreation,” “Brooklyn Nine-Nine,” “30 Rock,” “Saturday Night Live,” “Cheers,” “Top Chef” and more. Movies coming with Peacock are from Universal Pictures, Focus Features, DreamWorks Animation, Illumination and other major Hollywood studios.

Excluding Monday’s move, Roku stock had outperformed the broad markets with a gain of about 20% year to date. In the past 52 weeks, the share price has performed roughly the same.

Roku stock traded up about 14% on Monday, at $183.61 in a 52-week range of $58.22 to $188.00. The consensus price target is $169.38.