Is the sky the limit for Roku? The streaming device manufacturer, and operator of The Roku Channel streaming service ended the third quarter of 2024 with 85.5 million streaming households, and according to data compiled by Parks Associates, the company is the most popular streaming player maker in the United States. But the company doesn’t want to stop there; according to Roku’s chief financial officer Dan Jedda, Roku is targeting 100 million active user accounts by 2026.

Key Details:

• Rolling out new lines of Roku TV in retail stores like Best Buy, Target, and Walmart will be key to reaching the 100 million goal.
• Roku has already reached nearly 50% penetration of broadband homes in the U.S.
• Jedda isn’t overly concerned with Walmart’s recent acquisition of VIZIO preventing him from hitting his goal.

Discussing Roku’s future prospects at the UBS Global Media and Communications Conference in New York on Monday, Jedda said that he sees the 100 million active accounts goal as achievable within the next 18 months.

“That path is not like years and years away,” Jedda said. “It’s relatively quickly. So we feel good about — despite the competition, despite the movements of streamers of content companies into the AVOD space, despite the move of more into the [operating system] space, we feel very good about our position.”

The CFO also told the audience that Roku is almost at 50% market penetration in the United States already, and that launching new lines of Roku smart TVs with its famed operating system built in at major retailers like Best Buy, Target, and Walmart will be key to reaching the 100 million mark.

Roku has grown at an impressive rate over the course of the past year. The streamer ended its first quarter of 2024 with 81.6 million streaming households, expanding by nearly 4 million new households by the end of the third quarter. That makes its goal of climbing to 100 million by 2026 seem eminently achievable.

Jedda also struck a tone of confidence when discussing Roku’s performance as compared to competitors like Amazon and Google. He says the competition “keeps us on our toes,” and was unconcerned about Walmart’s now-closed deal to buy the smart TV manufacturer VIZIO.

We have a great relationship with Walmart,” he said. “Their streamers love our products. They ask for Roku by name. And so I do not believe that this will particularly impact us [negatively].”