What happened

Shares of Roku (NASDAQ:ROKU) jumped on Tuesday, rising 10.8% on the day.

The stock's gain followed news that Apple's (NASDAQ:AAPL) Apple TV app is now available on the Roku platform. In addition, Roku said its users will be able to subscribe to the upcoming streaming service Apple TV+.

Image source: Getty Images.

So what

"Roku is a valuable partner for content providers looking to reach a large and engaged audience, and we're looking forward to bringing this new option to Roku users," said Scott Rosenberg, Roku senior vice president and general manager of platform business, in a press release. 

As the leading streaming-TV platform in the U.S., Roku is a crucial medium for services that want to reach as much of the country as possible.

Since Roku takes a share of subscription fees on its platform, it will likely see a financial benefit from Apple TV+.

Now what

Roku's platform business has been on fire. Platform revenue jumped 86% year over year in Q2, fueled by a 39% increase in active accounts and a 72% jump in streaming hours.

Apple TV+'s launch on Nov. 1 will likely help boost the company's active user count and hours streamed even further.

Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple and Roku. The Motley Fool has the following options: short January 2020 $155 calls on Apple, long January 2020 $150 calls on Apple, short January 2020 $155 calls on Apple, and long January 2020 $150 calls on Apple. The Motley Fool has a disclosure policy.