Why Roku Stock Is Rising Today

Roku Inc ROKU shares are trading higher Tuesday after the company announced an agreement with Warner Bros Discovery Inc WBD to bring Warner Bros. branded FAST channels to The Roku Channel.

What To Know: Popular premium content including "Westworld," "The Bachelor," "Cake Boss," "Say Yes to the Dress" and "F-Boy Island" will arrive on The Roku Channel in spring 2023.

On top of that, the deal will also bring in about 2000 hours of on-demand library programming to The Roku Channel. Warner Bros. Discovery's brand portfolio, including HBO, HBO Max, Discovery Channel, HGTV, Food Network, TLC, Warner Bros. Pictures and Warner Bros. Television will be made available for audiences to stream for free.

"The rapid expansion of premium content on FAST is a win for both the viewer and content owner, as well as advertisers looking to reach these audiences through well-known programming," said Rob Holmes, vice president of programming at Roku.

Roku connects users to the streaming content they love, enables content publishers to build and monetize large audiences and provides advertisers with unique capabilities to engage consumers

See Also: What's Driving General Motors Stock Higher? Barra Says Automaker Poised For 'Breakout Year'

ROKU Price Action: Roku has a 52-week high of $177.96 and a 52-week low of $38.26.

The stock was up 4.8% at $56.59 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Roku.

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