-->
Have you voted in the 2020 Streaming Media Readers' Choice Awards? Vote Now!

Roku Takes in $45M Investment; Will Build Brand Awareness

Article Featured Image

Set-top box maker Roku announced today that it has taken in $45 million in new investments from News Corporation and British Sky Broadcasting (BSkyB), as well as prior investors Menlo Ventures and Globespan Capital Partners. That shows a surprising amount of certainty in the set-top box market, considering the increased use of smart TVs, as well as competition from game consoles and other boxes such as the Apple TV.

The value of these investments isn't purely monetary, however, but also demonstrates broadcasters' confidence in Roku devices.

Roku announced that it will use the funds to improve its brand awareness. It also plans to grow into new international markets and bolster its engineering and productions systems. Those improvements are necessary to support the future growth of advertising, games, and pay-per-view video on the platform.

The company also noted that the Roku Streaming Stick, first announced in January of this year, will launch in the fall. The Streaming Stick is the size of a USB flash drive, and it plugs into an HDMI port on televisions that offer MHL-enabled HDMI. The advantage is that it delivers Roku's channels and services in a compact and cord-free package. The company hasn't yet announced models or pricing for the Streaming Stick.

As part of the new investment, Jon Miller, chief digital officer for News Corporation, will join Roku's board of directors.

Streaming Covers
Free
for qualified subscribers
Subscribe Now Current Issue Past Issues
Related Articles

Apple TV vs. Roku 2

The market is full of $99 streaming boxes, but Apple TV and Roku 2 are still the most popular. Here's an in-depth comparison on hardware, features, and content.

Roku Explains the Growing Threat to Cable and Satellite

Viewers are looking for more flexibility, such as a la carte models, but pay TV has been slow to respond.

Roku Begins Selling Set-Top Boxes in Canada

Canadians now have an inexpensive way to stream to their TVs all the Netflix they can watch, as well as 100 other channels.

Roku Announces New Product: Streaming Stick for Cord-Free Hookup

Tiny flash drive-sized stick offers integrated Roku functionality in a smaller device.