Key points:
- Roku stock gains 3.5% after being crowned Canada's top streaming service
- In a company landmark, Roku's ease and accessibility has won over its Canadian audience
- With a 50% pullback, now might be the time to invest in the leading streaming service
Roku’s (NASDAQ: ROKU) ease-of-use consumer model seems to be working wonders over in Canada after a study conducted by the Hypothesis Group revealed the company is the country’s number one streaming platform – based on hours streamed. This is the sort of information that investors relish, and sure enough, Roku stock jumped around 3.5% on Thursday trading following the announcement.
Roku’s focus on seamless integration of ease-of-use, original content, and new Roku TV models have seriously benefitted the streamer’s positioning in such a popular market. With 4 out of 5 Canadians as self-proclaimed ‘streamers’; this is a great landmark for Roku and one that investors should not glance over.
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Arthur Van Rest, VP International at Roku, stated:
“We are proud to lead the Canadian TV streaming market. The Roku brand is growing in Canada with introductions to new streaming devices, original content, and new Canadian entertainment with partners like CBC, Global News, and Crave”
Adding…
“Providing simplicity, entertainment, and value is clearly resonating with Canadian consumers, who are choosing our platform to stream TV.”
Rightly so, Roku’s blend of simplicity and value has clearly hit home with its Canadian audience. ROKU stock has had a tough time in the markets recently, but the stock’s 50% pullback is mostly attested to short-term headwinds. Roku is well-positioned as a Canadian market leader and investors will want to pay attention to Roku’s Q4 earnings, which will likely prove a strong set of financials.