Roku is making a significant acquisition that will propel it further in the content space.
According to the announcement, the streaming service Frndly TV is being purchased by the platform for approximately $185 million in a transaction set to close in the second quarter. This acquisition will provide Roku with a strong presence in the subscription streaming market and the virtual Multichannel Video Programming Distributor (vMVPD) sector, enhancing its existing free Roku Channel offerings.
Friendly service combines features of multi-channel video providers operating online, such as YouTube TV, with on-demand entertainment, emphasizing family-oriented content. It broadcasts channels like Hallmark, History, Lifetime, and A&E. Their subscription plans begin at $6.99 per month.
Anthony Wood, the founder and CEO of Roku, expressed that Friendly TV’s rapid expansion in direct-to-consumer subscription services and proficiency makes it an attractive choice for Roku. This acquisition aligns with our strategy to boost platform income and Roku-managed subscriptions, offering live content that our users adore at a competitive price.
Andy Karofsky, CEO and co-founder of Frndly TV, expresses great enthusiasm about joining forces with Roku. He explains that they share a common goal of delivering enjoyable, high-quality entertainment at affordable prices to customers. Roku’s innovative leadership in streaming and its dedication to customers mirrors Frndly TV’s strategic objectives. Karofsky believes this partnership will propel their subscriber growth, as both companies cater to similar customer bases and Roku holds a prominent position in the connected TV market.
The agreement totals $185 million, with $75 million set aside for potential earnings over the next two years.
The agreement was linked with Roku’s first-quarter financial report, showing an increase in revenue by 16% to reach $1.02 billion, while also reporting a net loss of $27.4 million for that quarter.
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2025-05-01 23:24