Week to date, shares of Roku (NASDAQ: ROKU) were up 15% through Thursday's close, according to data provided by S&P Global Market Intelligence. The company reached a deal to bring a wealth of content over from Warner Bros. Discovery, sparking enthusiasm around Roku's advertising growth.

The deal will add Warner Bros. Discovery's branded free, ad-supported television (FAST) channels to The Roku Channel, in addition to about 2,000 hours of on-demand programming. This includes a wealth of content from the media company's HBO, HBO Max, Discovery Channel, HGTV, Food Network, Warner Bros. Pictures, and more.

This is part of Roku's strategy to bring new content to The Roku Channel, which it monetizes with advertising. The service has proven to be a powerful draw for new customers, with streaming hours continuing to grow faster than the rest of the platform, nearly doubling year over year in the third quarter. This outpaces the company's total streaming hour increase of 21%, reaching 21.9 billion last quarter.

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Source Fool.com