Roku stock rockets to best day since 2019 after YouTube distribution dispute ends

Roku's new deal with YouTube and YouTube TV sent its shares shooting almost 20% higher.

Article_Normal, Computers/Consumer Electronics

12/9/2021 4:18:00 AM

Roku's new deal with YouTube and YouTube TV sent its shares shooting almost 20% higher.

Shares of Roku Inc. surged Wednesday to post their best day since 2019, after the streaming-media company confirmed that it will be extending its agreements...

Roku ROKU, +18.23% and Alphabet’s GOOG, +0.46% GOOGL, +0.62% Google had been in heated negotiations about the future of YouTube and YouTube TV on the Roku platform. Roku had pulled the YouTube TV app from its channel store back in April after the companies failed to agree on terms for the live-TV streaming service, but now they appear to be on better footing.

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The two companies have “agreed to a multi-year extension for both YouTube and YouTube TV,” a Roku spokesperson said Wednesday. The arrangement is “a positive development for our shared customers, making both YouTube and YouTube TV available for all streamers on the Roku platform,” the spokesperson continued.

Terms of the deal weren’t disclosed.Roku’s stock ended up 18.2% in Wednesday trading, its largest single-day percentage gain since Aug. 8, 2019, when it added 20.9%. Shares of Alphabet closed up 0.6%.Subscribe: Want intel on all the news moving markets? Sign up for our daily Need to Know newsletter. headtopics.com

Back in April, Roku maintained that it wasn’t seeking additional “financial consideration” through its YouTube TV negotiations, though the company said it was pushing back at requests from Google that it deemed “anticompetitive.” Google said at the time that it was looking to renew the YouTube TV agreement under “existing reasonable terms” and denied that it made requests “to access user data or interfere with search results.”

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Wells Fargo analyst Steven Cahall wrote in a late November note to clients that he thought investors were “concerned about core YouTube falling off of Roku at some point” as tensions escalated over YouTube TV.

Read more: MarketWatch »

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Roku, YouTube Ink New Deal, Bringing YouTube TV Back to Streaming PlatformThe companies had been in a bitter public dispute since April, and with a deal for the main YouTube app set to expire Thursday.

YouTube stays on Roku devices as companies strike multi-year dealYouTube and Roku Inc announced on Wednesday a multi-year pact to end a battle that dragged for months over accusations of anti-competitive conduct and threatened to strip the internet's biggest video streaming service from tens of millions of TV devices.

Roku And Google End YouTube Impasse, Set Multi-Year Distribution RenewalRoku and Google have resolved their longtime differences over the YouTube and YouTube TV apps, reaching a multi-year carriage extension a day before a key deadline. The two tech companies have wage…

Roku And Google End YouTube Impasse, Set Multi-Year Distribution RenewalRoku and Google have resolved their longtime differences over the YouTube and YouTube TV apps, reaching a multi-year carriage extension a day before a key deadline. The two tech companies have wage…

Roku, Google Reach Long-Term Deal for YouTube and YouTube TVRoku and Google have buried the hatchet, announcing a multiyear extension for both YouTube and YouTube TV apps on the Roku streaming platform. The companies reached the agreement just days before t… I know we all probably must have heard about Bitcoin but don't know how it works I tried it a week ago by a fellow tweeter who recommended me to JULIE_FX_TRADER she guided me through and i made a return of $25,000 after a week of trading, connect with her. JULIE_FX_TRADER $ROKU is heading back north of $400 soon. 🥳