Roku Joins The Live Sports Streaming Race, Grabs Rights To This Sport
Portfolio Pulse from Chris Katje
Roku Inc (NASDAQ:ROKU) has announced its first live sports rights package, becoming the official streaming home of motorsports league Formula E in the U.S. The Roku Channel will offer on-demand replays, race previews, highlights, and past docuseries starting from the 2024 season. CBS Sports, a unit of Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA), has also expanded its deal with the league. The move comes as media companies compete for sports content rights as consumers shift to streaming services.
June 27, 2023 | 5:41 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
CBS Sports' expanded deal with Formula E could increase its audience reach.
CBS Sports' expanded deal with Formula E could increase its audience reach and discoverability of its programming in the U.S. This could potentially have a positive impact on its parent company Paramount Global's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Roku's entry into live sports streaming could boost its subscriber base and engagement.
Roku's move into live sports streaming is a significant strategic shift that could attract new subscribers and increase engagement among existing ones. This could potentially boost its stock in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100