There's little question that streaming video is the wave of the future. The ongoing pandemic has dragged the future kicking and screaming into the present. With accelerating adoption and an agnostic platform, Roku (NASDAQ:ROKU) is uniquely positioned to benefit from this trend.
On this episode of Fool Live that aired on Nov. 20, "The Wrap" host Jason Hall and Fool.com contributor Danny Vena discussed three recent developments that point to a bright future for the streaming pioneer.
Jason Hall: Danny, what you got for us?
Danny Vena: I wanted to share, there's a lot going on with Roku this last week. Roku, as you know, is a provider of streaming devices and makes much of its money from advertising.
There was a quote earlier this week by a gentleman that some of you may have heard of, Liberty Media Chairman John Malone, who really is a bigwig in the industry. When he was talking about the evolution of US and media companies in the world, he said that he was talking about Roku and says that this company that aggregates content on the platform is well-positioned for growth in the long run, and I'm quoting him here, "I think that people who have the platforms in addition to the content, only the platforms like Roku are in a pretty good position to build a long-term profitable global business."
Another piece of news that came out about Roku this week is that the company, there are reports that surfaced that it's going to do a deal with AT&T (NYSE:T) to bring the HBO Max channel to Roku's platform. Roku is very channel-agnostic. Basically, it welcomes all comers. So adding HBO Max to the platform will strengthen it even more than what it is.
Then finally, earlier this week, Roku announced it was releasing a limited edition $17 Roku SE Streaming Player. I've never seen one that low. I think the lowest that I have ever seen for a Roku streaming device has been $30. Now, just in time for the holidays, Roku is releasing a $17 streaming device.
Jason Hall: They're practically paying you to take it.(Laughter).
Danny Vena: Just about. (Laughter). As a Roku shareholder, all of those things made me happier and I think in the future they will make me richer.
Jason Hall: Yeah. Those of us that haven't bought yet makes us a little bit smarter. So well done there. Well done.