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Roku Stock Pops 18% on Peacock Launch

The app brings more than 20,000 hours of content

Roku (NASDAQ:ROKU) is seeing its stock soar higher on Monday following news that the Peacock app has launched on its streaming platform.

The Roku logo on the side of an office building comprised of sand colored concrete
Source: JHVEPhoto/Shutterstock.com

Peacock is a streaming app that provides viewers with content from Comcast’s (NASDAQ:CMCSA) NBCUniversal. That means that Roku owners can now watch its large collection of more than 20,000 hours of content available through the app.

The Peacock app features movies, TV shows, and live events for viewers to take in. Its offerings include free content that anyone can watch, as well as paid content for its subscribers. The company points out that it offers over 13,000 of free content for users of the app.

According to a news release, the Peacock app also offers current programming to viewers. It’s also worth pointing out that live events include sports games. That includes coverage of the Premier League.

Tedd Cittadine, vice president of content acquisition at Roku, said the following about the news pushing its stock higher.

“Audience demand for compelling content is fueling a surging shift to streaming for a majority of American households today. We’re focused on delivering the kind of high-quality news and entertainment content Roku users want and love and we’re excited to welcome Peacock’s world-class programming to America’s #1 TV streaming platform and help NBCUniversal build a bigger fan base through our industry-leading, audience development tools.”

ROKU stock was up 17.9% as of Monday afternoon and is up 17.1% year-to-date as of Friday’s close.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/09/roku-stock-pops-on-peacock-launch/.

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