Over the course of the past year or so, streaming device and software manufacturer Roku Inc (NASDAQ:ROKU) has emerged as one of the best growth stocks in the market. However, experts now believe that the onset of the so-called streaming wars is going to help in propping up the growth prospects of Roku.
Disney, Apple, and Netflix are now locked in a battle for market share in the streaming space, which is why it is going to boost Roku with regards to new sign-ups. Analysts also went on to state that the Roku stock is also expected to get a boost owing to that.
What Are Analysts Saying?
Tom Forte, who is a senior analyst at the firm D. A. Davidson, stated that Roku is in the best position to exploit the current opportunity in the over the top market. The over the top video consumption market is expected to grow at a significant rate in the coming months and in such a situation, Roku could generate a lot of growth owing to this opportunity. Over the course of the past year, the Roku stock rallied significantly and has gained as much as 225% to emerge as one of the best performers in the over the top space.
Although the stock declined in early morning trading on Monday, analysts believe that it remains a good prospect. The main reason behind the expectations of growth for Roku is the fact that the company has a platform that allows customers to access a range of video streaming services. Roku has the unique distinction of offering Hulu, Netflix, Amazon Prime Video, Disney+ and Hulu in one place.
All these services are going to add plenty of customers over the coming months and that could mean even more customers for Roku. Moreover, the company’s advertising business in the streaming space could also get a major boost due to the potential influx of fresh customers.
Content Is King: Stocks To Watch
Right Now streaming services like Netflix Inc (NASDAQ: NFLX) are spending billions of dollars on original content. According to Media Post:
“Netflix’s 2019 costs to buy, produce and license content will be $15 billion — up from $12 billion in 2018. 2019 marketing costs are pegged at $2.9 billion.”
According to a recent article that was published on The Motley Fool, the billions Netflix is spending on original content is just a small fraction of what streaming services as a whole will spend in 2019.
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