Roku released its Q4 2020 earnings today, reporting that it has surpassed 50 million active accounts, a number originally shared last month ahead of today’s earnings call. Roku added 14.3 million active accounts in 2020, with the official number at 51.2 million by the end of the year. Revenue was up 58% year over year, coming in at just under $650 million.
“I’m excited that more than 50 million households now turn to Roku for their TV viewing,” said Roku CEO Anthony Wood during Roku’s preliminary reporting. “The world is moving to streaming and we look forward to continuing to help viewers, advertisers, content publishers, and TV manufacturers succeed in the Streaming Decade.”
Roku users streamed 17 billion hours in Q4 alone, and over 58 billion hours overall in 2020, a 55% increase year over year.
The company also shared that Roku was the number one smart TV operating system in the US, with 38% of all smart TVs sold in the US being Roku models. Sales of Roku streaming devices grew by 28% during 2020, with Q2 and Q3 showing the most sales, when consumers were at home due to the pandemic.
Roku attributed its growth in 2020 to consumers spending more time at home and the growth of the streaming industry.
“To put our scale in perspective, Roku’s U.S. active account base is now more than twice the number of the U.S. video subscribers of the biggest cable company,” Wood wrote in a letter to shareholders Thursday.