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- Roku's shares were dropped on Wednesday afternoon as a result of a report that Amazon was looking to expand its streaming offerings.
- Amazon has "spoken to media and advertising agency executives of its intention to include more ad-supported streaming channels to compete with Roku and Pluto TV," he said. announced Cheddar.
- Watch Roku's trade live.
In the context of what has become a usual negative market response to Amazon's plans to enter the industry, Roku's shares lost as much as 3.2% on Wednesday, after announcing that Amazon was looking to expand its streaming offerings.
Amazon is considering a "broad" extension of its free streaming service on Amazon Fire TV devices, asking marketers to pledge for millions of dollars to support new offers announced by Cheddar, according to "many people having discussions "with Amazon. Amazon declined to comment on Cheddar.
Amazon has spoken to media companies and advertising agency executives about its intention to include more advertising-funded streaming channels to compete with Roku and Pluto TV, which offer free access to TV shows and movies with commercials, "said Cheddar.
Advertisers would be reluctant to promise money before knowing what content might be available on the new channels, and some buyers said that Amazon was asking for "as much as a large cable network for the commitments advertising ".
Earlier this year,
Wednesday's slide had little effect on Roku's recent rally. Shares are up 126% this year at $ 68.40 each.
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