Roku achieved significant financial success in the fourth quarter of 2024, fueled by robust advertising sales and the ongoing popularity of streaming services. The company's Platform revenue exceeded $1 billion for the first time, marking a substantial 25% year-over-year increase. This contributed to a total net revenue of $4.1 billion, an 18% year-on-year growth.
“We continue to make progress growing ad demand through deeper third-party platform integrations, improving the Roku Experience (which starts at our Home Screen) to expand monetization, and growing Roku-billed subscriptions,” the company stated in its Shareholder Letter. The surge in revenue was also boosted by strong demand for political advertising leading up to the US elections.
Roku solidified its position as the leading TV OS in the United States, Canada, and Mexico. 2024 marked the first full year of sales for Roku-branded TVs, exceeding 1 million units sold. The company also expanded its reach in the United Kingdom, increasing its Roku TV partnerships and distribution across major retail channels. By the first week of January 2025, Roku had achieved a remarkable milestone of 90 million Streaming Households globally, ending 2024 with 89.8 million.
Q4 2024 saw a net addition of 4.3 million streaming households, while the full year added 9.8 million. Addressing concerns raised by investors regarding potential impacts of tariffs introduced by Donald Trump on Chinese electronics, Roku executives stated that these tariffs are not anticipated to significantly affect the company's platform business.