Roku (NASDAQ: ROKU) was already one of the star performers of 2020, with its stock rising 148%. The combination of remote work and stay-at-home orders that blanketed much of the world last year gave rise to a dramatic increase in streaming. Roku was able to capitalize on this accelerating demand during the pandemic, expanding its reach to a greater number of viewers than ever before. As a result, revenue for the first nine months of 2020 grew 57% year over year, and in the third quarter, the company flipped to profitability.
Roku is one of the undisputed leaders in the streaming video space, but several announcements during the past week illustrate why Roku’s dominance is just beginning.