Roku Inc (NASDAQ: ROKU) aims to develop over 50 original shows in the next two years as part of an effort to make it a destination for free content, the Wall Street Journal reports.
- Roku has expanded the Roku Channel’s offerings beyond licensed shows to acquired shows, including short-form programs from defunct mobile-streaming service Quibi Inc.
- Roku’s 50 planned shows include some shows acquired from Quibi that are yet to premiere.
- Roku is also trying to improve the monetization of the 155 million people who live in homes with Roku devices, about half of whom currently watch the Roku Channel.
- Roku looks to spend $0.25 million – $0.75 million per unscripted episode, and $0.50 million to $5 million per scripted episode, significantly less than what Netflix Inc (NASDAQ: NFLX) spends on “The Crown” or AT&T Inc’s (NYSE: T) WarnerMedia on “West World.”
- Roku will begin soliciting proposals from talent and production companies describing it as “ad-friendly” shows appealing to 18 to 49-year-olds.
- Roku seeks scripted comedy and drama in half-hour, hour, and feature formats with a preference for serialized programs.
- Roku is also looking for unscripted shows, like music competitions and lifestyle programs.
- In the height of the lockdown, Roku’s streaming hours jumped 65% year on year.
- Roku gets about 3.5 hours of viewing per user daily. However, the average TV household watches seven, eight hours of TV, leaving more potential for Roku.
- Roku is already producing some original content of its own.
- Recently, Roku announced plans to develop the half-hour scripted comedy series “Children Ruin Everything,” with “Schitt’s Creek” creator Kurt Smeaton and New Metric Media.
- Price Action: ROKU shares traded lower by 0.22% at $235.24 on the last check Friday.
