Streaming company Roku expects half of American households to cut the cord within four years, forgoing cable television for good…
Roku is making a big bet on the future of entertainment. In the company’s most recent performance report for the last quarter, the streaming giant is forecasting its industry to grow meteorically, while traditional cable television subscriptions shrink at a near an unprecedented rate.
Roku Report Predicts Half of American Households will Abandon Traditional Cable TV by 2024
Roku estimates that in less than half a decade, by 2024, half of households in the United States will have cut the cable cord.
Roku says that we are now in the “streaming decade,” and now claims 36.9 million active accounts, hosting 60 percent more streaming hours than the same period last year, and retail sales up by 33 percent, to boot.
What’s more, the company exceed analysts’ expectations with its Q4 2019 earnings. For the entire year, Roku pulled in $1.1 billion as its users streamed 11.7 billion hours of content in the fourth quarter alone.
Roku CEO Anthony Wood explains:
“Millions of consumers, the biggest names in media, leading advertisers and global TV brands are embracing streaming. Moreover, new services and the growing investment in original programming that is exclusive to streaming are enriching the OTT experience. This is driving more viewers to spend more time streaming and less time in traditional pay TV, and many consumers are leaving the legacy pay TV ecosystem entirely.”