Why Roku Stock Is Dropping Today
Shares of Roku (NASDAQ: ROKU) were trading down 8.2% as of 12:27 p.m. ET on Tuesday.
While the stock was falling on a down day for the markets, there was positive news for Roku on the content-acquisition front. Lions Gate Entertainment announced a partnership with The Roku Channel to give users exclusive, free access to Lionsgate's theatrical releases.
This agreement is the latest move to bring more exclusive content to Roku's free ad-supported channel to attract more users. Roku originally launched The Roku Channel in 2017, and it's been growing much faster than the rest of the platform. It's now among the top five channels on the platform, with streaming hours on The Roku Channel more than doubling year over year in 2021.
Source Fool.com
