Roku's Catching Back Up to Amazon, and 2020 Could Be Even Better

Roku (NASDAQ: ROKU) added a record 4.6 million incremental active accounts in the fourth quarter of 2019. That put the video streaming platform up nearly 10 million for the full year, and it's entering 2020 with excellent momentum. The average time spent per account continues to climb quickly as well, with total streaming hours up 60% year over year compared to a 36% increase in active accounts.

Roku's results are especially promising in light of a slowdown in Amazon's (NASDAQ: AMZN) Fire TV accounts. The retail giant said it surpassed 40 million active accounts by the end of 2019, more than Roku's 36.9 million, but growth slowed considerably in the last four months of the year. Amazon added only about 3 million incremental accounts from September through December.

Roku is already the most popular streaming platform in the United States. The year 2020 may be when it takes back the throne from Amazon to claim global leadership.

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Source Fool.com