Why Roku Shares Are Rising Today

May 1, 202417:06 UTC

Roku, Inc. ROKU shares are trading higher on Wednesday.

The company announced the launch of new video experiences, ad solutions, and new content partnerships at its annual IAB NewFront presentation in New York City.

Roku, which boasts reaching nearly 120 million people every day, specifically highlighted innovation across its advertising business.

“Viewers in the Roku experience are engaged in our uncluttered, elevated ad environment well before dispersing to apps, networks, and paywalls. For advertisers and publishers of all kinds, this makes Roku the broadest reach lead-in to all of television,” said Charlie Collier, President of Roku Media.

Upcoming additions to The Roku Channel feature “Tightrope!”, a comedy series with Bryan Cranston as executive producer and starring Ty Burrell. Also included are “Tracee Travels (wt)” starring Tracee Ellis Ross, “The Arch Project (wt)” featuring Gard Hollinger and Keanu Reeves, a second season of “Side Hustlers” with Emma Grede and Ashley Graham.

Yesterday, the company announced plans for a new data-driven TV streaming partnership with The Trade Desk, Inc. TTD to equip advertisers with better planning, buying, and measurement of TV streaming media.

Roku intends to enable advertisers on The Trade Desk platform to utilize Roku’s media, audience, and behavioral data, enhancing their campaign optimization for TV streaming viewers.

Recently, the company also announced an expanded measurement partnership with iSpot.tv, the cross-platform TV measurement company.

Price Action: ROKU shares are trading higher by 1.24% to $58.38 at last check Wednesday.

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