In a remarkable year for the streaming industry, Roku has announced its full-year 2024 financial results. The company's total net revenue reached $4.1 billion, marking an 18% increase from the previous year. Platform revenue surged to $3.5 billion, also up 18% YoY. Gross profit climbed by 19%, reaching $1.8 billion. Additionally, Roku's streaming households grew to nearly 90 million, with streaming hours increasing by over 21 billion. The company anticipates positive operating income for the full year 2026 and projects steady growth in key performance metrics.
Streaming Giant Roku Surges Ahead in 2024
In the vibrant autumn of 2024, Roku, a leading name in the streaming sector, unveiled its stellar performance for the year. The company reported a robust total net revenue of $4.1 billion, representing an impressive 18% rise compared to the previous year. This success was largely driven by platform revenue, which amounted to $3.5 billion, showing an 18% increase year-over-year. Notably, excluding political ad spend, the platform revenue still grew by 15%. Gross profit stood at $1.8 billion, reflecting a 19% improvement.
The number of streaming households expanded significantly, reaching 89.8 million, a net gain of 9.8 million from the previous year. Streaming hours skyrocketed to 127.1 billion, up by 21.1 billion hours. Average Revenue Per User (ARPU) on a trailing 12-month basis was $41.49, rising 4% from the prior year. In Q4, Roku achieved its first quarter with over $1 billion in platform revenue, growing by 25% YoY.
The Roku Channel, one of the company's flagship offerings, saw substantial growth, particularly in Q4, where streaming hours increased by 82% YoY, reaching approximately 145 million US households. The channel's success can be attributed to its enhanced content recommendation system and broad content library. By December 2024, more than 80% of streaming hours on The Roku Channel originated from the Roku Experience, marking a significant shift from the previous year.
Looking ahead, Roku forecasts a Total net revenue of $1.005 billion for Q1 2025, up 14% YoY, with Platform revenue expected to grow by 16%. Devices revenue is anticipated to remain relatively flat due to elevated inventory levels following lower holiday sales. For the full year 2025, Roku expects Total net revenue of $4.61 billion, Total gross profit of $2.005 billion, and Adjusted EBITDA of $350 million. Platform revenue is projected to reach $3.95 billion, growing 12% YoY, while Devices revenue is forecast to be $660 million, also growing 12%.
From a journalistic perspective, Roku's achievements underscore the resilience and adaptability of streaming platforms in a rapidly evolving digital landscape. The company's ability to diversify revenue streams, enhance user experience, and expand its market penetration sets a benchmark for innovation in the industry. As Roku continues to forecast strong growth, it serves as a testament to the enduring appeal of streaming services and the strategic foresight of its leadership team. This report not only highlights the company's financial prowess but also signals a promising future for the broader streaming ecosystem.