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Streaming video platform Roku is set to undergo another round of layoffs, the company disclosed in a securities filing Thursday morning. Roku says that it will cut another 200 jobs, or about 6 percent of its workforce, in the coming days and weeks. These would be the second round of layoffs at Roku in about…
Silicon Valley Bank Failure Closely Watched In Entertainment As Biden Reassures Investors Stock markets in Europe fell on Monday amid concern over the fallout of the failure of Silicon Valley Bank, the U.S. bank known for lending to technology companies, despite regulators’ moves to contain the crisis and avoid a domino effect with various measures. U.S….
Roku Has $487M In Cash At Failed Silicon Valley Bank The dramatic failure of Silicon Valley Bank on Friday will have a ripple effect that impacts the entertainment industry. According to multiple securities filings Friday, a number of companies with connections to the entertainment business had accounts at the bank. With the bank now in…
Why Wall Street Has Vastly Diverging Views About Roku Despite ballooning operating losses (nearly $250 million) and an advertising downturn, Roku’s stock soared a day after it reported fourth-quarter earnings on Feb. 15. Part of this came as the number of active users picked up to 70 million and the Anthony Wood-led firm beat revenue…
The Roku Channel to Stream Short Films from High School Students (Exclusive) Some high school student filmmakers will have their work shown nationwide, thanks to The Roku Channel. Last spring, the company partnered with youth organization Fresh Films for the Roku Change Makers Program, which trained more than 250 high schoolers from 23 cities nationwide…
Roku Plans to Launch Its Own TV Line Roku unveiled its Roku Select and Roku Plus Series TVs Wednesday, the first TVs to be designed and made by the company. The company will make 11 models, ranging from 24” to 75”, which will feature Roku’s operating system, as well as a new Roku TV Wireless…
Roku to Cut 200 Jobs, Citing Challenged Economy Roku is the latest technology and media player to slash jobs, revealing in a securities filing Thursday that it plans to reduce its workforce by about 5 percent, or about 200 jobs. The company said the plan, which was approved Thursday, was meant to “slow down the…
Roku Adds 2.3M Active Accounts, Operating Losses Grow Roku added 2.3 million active accounts during the third quarter as total streaming hours rose to 21.9 billion, representing a 21 percent year-over-year increase. In a letter to shareholders on Wednesday, Roku said the increase in active accounts was primarily driven by TV sales. But the company,…
“Anna Torv’s award-winning role in ‘The Newsreader’: what to know” There’s a hint of the 1987 movie “Broadcast News” in “The Newsreader,” a new six-episode drama premiering Friday (March 18) on Roku. The series, set in 1986 Australia, stars Anna Torv (“Fringe,” “Mindhunter”) as Helen Norville, the tempestuous co-anchor of the “News at Six” in…
“#Roku stock plunges 25% as TVs become hard to find” Roku reported quarterly revenue that missed estimates, as the company was hit by supply chain issues that affected sales of television sets and its own streaming devices, sending shares down 25% in Friday afternoon trading. The company, which got a boost during the pandemic with people…