Roku Stock Plunges 2.55% as New $2.99 Streaming Service Launches Trading Volume Ranks 277th

Roku (ROKU) fell 2.55% on August 5, with a trading volume of $0.44 billion, a 37.14% decline from the previous day, ranking 277th in market activity. The stock’s performance coincided with the launch of its new ad-free streaming service, Howdy, priced at $2.99 monthly. The service offers 10,000 hours of content from partners like Lionsgate and Warner Bros. Discovery, targeting budget-conscious consumers amid rising costs for premium streaming platforms.

Howdy aims to complement rather than compete with high-tier services by focusing on library content, avoiding original productions that drive up subscription fees. CEO Anthony Wood emphasized its affordability, noting it costs less than a cup of coffee. The service initially launched on Roku devices, leveraging the company’s existing 90 million streaming households. With 125 million daily users on the free Roku Channel, the new offering expands Roku’s ecosystem while addressing market demand for low-cost alternatives.

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