Roku operates the leading TV streaming platform in the U.S., Canada, and Mexico by hours streamed, with over 90 million streaming households globally. Roku's model is built around owning the starting point of the TV viewing experience: when a user turns on a Roku device, they land on the Roku Home Screen before navigating to any content. Roku reaches consumers through two paths — selling its own streaming players and Roku-branded TVs, and licensing its Roku OS to TV manufacturers like TCL and Hisense. Devices are priced to grow the user base, often at thin or negative margins, and represent roughly 20% of revenue. The remaining ~80% comes from the Platform segment, where Roku monetizes viewer engagement through advertising and subscription revenue-shares. On the advertising side, Roku sells video and display ads integrated into its UI, serves inventory from its owned free streaming service (The Roku Channel), and supports programmatic buying through integrations with major DSPs including Trade Desk, Amazon, and AppLovin. Roku also earns revenue when viewers sign up for streaming services like Max or Paramount+ through its platform. Roku owns several streaming services — The Roku Channel, Frndly TV (a live TV subscription service), and Howdy (an ad-free SVOD) — which provide captive ad inventory and subscription revenue. Platform gross margins run around 51-52%. Roku's growth strategy centers on expanding its streaming household base, increasing engagement, and deepening Platform monetization through Home Screen ad innovation, broader DSP partnerships, and subscription aggregation.