Roku to lay off hundreds of employees, remove some streaming content
Roku says it will lay off another 300 employees as it seeks to reign in costs amid a softening market for streaming hardware makers.
Roku ($ROKU) is a developer of smart television operating systems and a manufacturer of streaming television devices. It also operates a free, ad-supported streaming service called the Roku Channel. The company is based in Northern California.
Roku says it will lay off another 300 employees as it seeks to reign in costs amid a softening market for streaming hardware makers.
The Roku Channel is now serving up a handful of free, ad-supported streaming content channels from NBC Universal.
The Roku Channel added dozens of CBS- and Fox-owned local news streams to its ad-supported platform this week.
Paramount is open to partnerships that will see its flagship streamer Paramount Plus bundled with other services, executives said on Monday.
Roku earned $847 million in net revenue during Q2, including $744 million in revenue from its platform business.
A software developer has launched the first voice-powered game on Roku’s streaming television platform.
Roku has made its free, ad-supported TV service The Roku Channel available on Android TV-powered devices for the first time.
Roku and CBS Sports will share the telecast rights to Formula E, the racing sport that features electric cars.
The free streaming service captured 1.1 percent of the domestic television audience in May.
Fuse Media has reached a deal to offer 500 hours of content through Fuse Plus on the Roku Channel.