Anthony Wood founded Roku in October of 2002. The company specialized in hardware and technologies for streaming services. It received investments from various companies, including Netflix. The latter needed help with building a player to reach more consumers.
Netflix currently leads the online streaming service. It was also one of the rising online streaming platforms. The trend the company was onto affected the TV situation. The need for Roku to switch priorities was in good timing. The only company to ever rival Netflix would be Amazon.
Roku Launches Ad Content Studio With Funny Or Die Talent
Roku’s focus on advertising began in 2017. The company offered several advertisers a chance to introduce their products. They didn’t need the advertisers to pay. Roku based their guarantees on a different company’s digital ad ratings to make it happen.
Advertisers from the cable environment reached a wider audience via Roku’s online streaming platform. A company called Magna joined Roku’s efforts to help clients gain access to this resource. Magna’s scope of clients included international companies like Coca-Cola and BMW. The move to allow an agency to use audience guarantees was a first for the TV streaming company.
Individuals following Roku may see a pattern with its business directions. Their recent partnership with Funny or Die is an indication of their status. Or it could mean the company aims to maximize its control over audience data.
The company is hiring a majority of the staff of FOD. This includes top execs and employees from the studios’ creative department. The creative staff at FOD will be producing content under Roku’s banner.
FOD owes its success to its creative team. FOD has consistently received awards from Webby. Webby is an international award-giving body for internet shows. The studio guests several famous names on their show like Steve Carell, and Adam West. They’ve also guested Patrick Stewart, Mila Kunis, and several others.
In 2016, FOD has seen a reduction in the number of employees. It was also at this time when new CEO Mike Farah took over the company. The reduction was a total of 30% of its current employee pool.
Representatives from Roku have chosen not to disclose any details of the acquisition. Roku’s partnership with Magna in the prior years is similar. It also had the same level of secrecy on financial details.