"We've said historically that the biggest impediment or governor of our ad business growth has been TV buyers' buying patterns, that they traditionally tend to prefer traditional linear TV versus new things like streaming," founder and CEO Anthony Wood said on the earnings call.
"And there's a gap there as viewers move over to streaming versus the ad dollars," he said. "What we saw, I think, in the pandemic, was that that gap started to close. But there's still a big gap and a lot of room to go. But advertising momentum in general is very strong." The company's SVP and GM of its platform business, Scott Rosenberg, also mentioned Roku's increasing appeal to different types of advertisers. That means those who might be more interested in wider branding initiatives, along with those that are more focused on driving specific and direct sales objectives.
"It's really a unique attribute of streaming that can both compete at a top of funnel — as a top of funnel branding medium, as well as a mid- and bottom funnel performance medium," he said. "I think that the reallocation of TV budgets, as well as digital and social budgets, toward streaming is here to stay."
Loop Capital analysts, who upgraded Roku stock to "buy" this week, noted that Roku's 101% platform growth outpaces some of its ad-supported tech peers in the first quarter.
Source: News Formal (newsformal.com)
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