Roku Is One of Fast Company’s Most Innovative Companies for 2023

Rhea-AI Summary

Roku, Inc. (NASDAQ: ROKU) has been recognized by Fast Company as one of the top 10 most innovative companies in North America for 2023. Roku maintains its position as the leading smart TV operating system and streaming platform, boasting 70 million active accounts and over 85 billion hours streamed in 2022. The company expanded its product range with new devices and features, including Shoppable Ads and Roku-branded TVs set to release in spring 2023. The Roku Channel continues to grow, adding partnerships with Warner Bros. Discovery, enhancing its appeal to users while driving innovations that simplify the streaming experience.

Positive

• Ranked in the top 10 most innovative companies by Fast Company.
• 70 million active accounts as of 2022.
• 85 billion hours streamed in 2022, indicating strong user engagement.
• Introduced Shoppable Ads, enhancing advertising capabilities.
• Launching Roku-branded TVs in spring 2023.

Negative

• None.

TV streaming pioneer ranks in the top 10 most innovative companies in North America

SAN JOSE, Calif.--(BUSINESS WIRE)-- This year, Fast Company named Roku, Inc. (NASDAQ: ROKU) one of the top 10 most innovative companies in North America, for the brand’s annual list of the World’s Most Innovative Companies.

Roku is one of Fast Company’s Most Innovative Companies for 2023. (Graphic: Business Wire)

“As more and more TV is streamed in the future, we’re committed to innovation that delivers simplicity, delight, and value to viewers, creators, and advertisers alike,” said Anthony Wood, founder and CEO of Roku. “The great news for streamers is that we’re just getting started.”

As the company that pioneered TV streaming, Roku is the #1 selling smart TV operating system (OS)¹ and the top TV streaming platform by hours streamed in the U.S., Canada, and Mexico². Roku has 70 million active accounts, and more than 85 billion hours were streamed across its platform in 2022. The company recently topped Morning Consult’s Fastest Growing Brand Among Gen-Z adults, and in a recent survey, Cord Cutter News found that more than 70% of U.S. cord-cutters use a Roku device.

In 2022, Roku focused on expanding features on its platform to enhance the connected experience for customers and provide additional value for advertisers. The company launched several new devices, including the Roku Voice Remote Pro; upgraded its most premium player, the Roku Ultra; and expanded its products with a new line of smart home devices such as video doorbells, lights, and plugs integrated into the Roku ecosystem. Recently, the company announced it will launch Roku-branded TVs this spring to offer more choice and innovation to both consumers and Roku TV partners.

Throughout 2022, Roku also updated its operating system (OS), the only OS purpose-built for TV, with more personalization features and enhancements across search, audio, and content discovery, launching The Buzz, Sports, and What to Watch, which provides tailored movie and TV recommendations on the Home Screen Menu. The company also released a new feature for streamers, Photo Streams, that allows customers to display and share photo albums through Roku streaming devices.

Additionally, Roku unveiled Shoppable Ads, a new ad innovation that makes shopping on TV streaming as easy as it is on social media. Viewers simply press “OK” with their Roku remote on a shoppable ad and proceed to check out with their shipping and payment details pre-populated from Roku Pay, its proprietary payments platform. Walmart was the exclusive retailer for the launch, a first-of-its-kind partnership.

Finally, Roku grew its content offering with thousands of apps and watching options for users, including content on The Roku Channel, a top five app by reach and engagement on the Roku platform in the U.S. in 2022. In November, Roku released its first feature film, “WEIRD: The ‘Weird Al’ Yankovic Story,” a biopic starring Daniel Radcliffe. Throughout the year, The Roku Channel added FAST channels from NBCUniversal and the National Hockey League, as well as an exclusive AMC channel featuring its signature drama “Mad Men.” This year, the company announced a deal with Warner Bros. Discovery, launching new channels that will include “Westworld” and “The Bachelor,” in addition to 2,000 hours of on-demand content.

Read more about Roku’s journey here.

Fast Company’s Most Innovative Companies issue (March/April 2023) is available online here, as well as in-app via iTunes and on newsstands beginning March 14.

About Roku, Inc.

Roku pioneered streaming to the TV. We connect users to the streaming content they love, enable content publishers to build and monetize large audiences, and provide advertisers with unique capabilities to engage consumers. Roku streaming players and TV-related audio devices are available in the U.S. and in select countries through direct retail sales and licensing arrangements with service operators. Roku TV™ models are available in the U.S. and select countries through licensing arrangements with TV OEM brands. Roku Smart Home products, including cameras, video doorbells, lighting, plugs, and more are available in the U.S. Roku is headquartered in San Jose, Calif. U.S.A.

About Fast Company

Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.

¹ According to NPD Q4 2022
² based on hours streamed, Dec. 2022, Hypothesis Group

View source version on businesswire.com: https://www.businesswire.com/news/home/20230302005502/en/

Media Contact

Stephanie Tackach

Stackach@roku.com

Source: Roku, Inc.

FAQ

What recognition did Roku receive from Fast Company in 2023?

Roku was named one of the top 10 most innovative companies in North America by Fast Company for 2023.

How many active accounts does Roku have?

Roku has 70 million active accounts as of 2022.

What new products is Roku launching in 2023?

Roku plans to launch Roku-branded TVs in spring 2023.

What significant advertising feature has Roku introduced?

Roku introduced Shoppable Ads, allowing users to purchase items directly from ads on their streaming platform.

How many hours were streamed on the Roku platform in 2022?

Over 85 billion hours were streamed across the Roku platform in 2022.