Roku and Google have finally settled their months-long disagreement, coming to a long-term carriage deal for both YouTube and YouTube TV on the connected TV platform. (Adweek)
Roku’s deal with Google to distribute YouTube was set to expire this month. Without a deal, YouTube would have been removed from Roku’s channel store, creating a big competitive disadvantage, especially during the holiday season. (Axios)
Roku described the deal as a “multi-year extension” for YouTube and YouTube TV. YouTube TV was pulled by Roku from its channel store in April as tensions between the two parties escalated. After months of stalled negotiations, Google said in late October that it would pull the YouTube app on Dec. 9 if a deal hadn’t been reached. (The Verge)
Shares of Roku closed up 18.2 percent at $256.08 after earlier hitting a high of $260.99. The stock rose about 148 percent in 2020 as the Covid-19 pandemic kept more people home and led to increased use of streaming. (WSJ)