*By Hope King* Roku is out with new hardware to help grow its...software business. The streaming TV company launched two new wireless speakers Monday designed to work with pretty much only Roku TVs. Roku says the speakers will only work with TVs made by its manufacturing partners ー such as TCL, Sharp, and Hisense ー and not with TVs plugged into a Roku box. But in reality, the company's VP of Product Management Mark Ely said they could be used with Bluetooth connected devices, such as a phone or tablet. “They also include a Bluetooth radio…so you can stream and playback through the speaker,” he told me. Pre-orders for the new Roku TV speakers began Monday with a promotional price of $150. The price will increase starting next week to $180. Shipping will begin in October when prices go up to $200. The wireless speakers also come with a TV remote and a touch remote, both with voice control only for Roku TV. The announcement comes a few months after Roku saw its platform business surpass its device business, in term of percent of revenue, for the first time during the first quarter of this year. The distinction of the speakers' compatibility may seem like a fine point, but for a company competing with evermore wireless speaker brands such as Sonos, and smart speakers from Amazon, Google, and Apple, it’s one that should be made. After all, how many connected speakers do people need in their homes, especially if they can’t all work together? To that end, Roku’s software inside the speakers could enable wider usage in the future. “We’re always upgrading those systems,” said Ely. “Even the very first Roku TVs we shipped back in 2014 have the latest software.” To be clear, Roku is not trying to compete directly with the growing smart speaker market here. The company instead is trying to make it easier for existing Roku customers to listen to music, shows, and movies through something other than their TV speakers. “Our goal is to make Roku TVs the best TVs,” Ely said. “Sound is a critical part of that.” He went on to say that “great sound \[means\] a more immersive experience, and that drives our business overall.” As of the end of the [first quarter,](https://ir.roku.com/static-files/8b04826b-95a6-49c4-82a6-c3e6ffa30f25) Roku saw platform revenue of $75.1 million ー about 55 percent of its total revenue and more than double what it was the year before. Ely said he expects the new speakers to add to that growth because the company is focused on “delivering a great streaming experience \[through\] really innovative hardware products.” “The better streaming experiences we can deliver, the more that drives platform engagement, and that drives the growth of our business,” said Ely. Shares of Roku closed down about 1 percent Monday. The stock is up about 82 percent since it began trading on the NASDAQ last September. For the full segment, [click here.] (https://cheddar.com/videos/roku-introduces-wireless-speakers-to-hardware-line-up)

Share:
More In Technology
'Slow and Steady Wins the Race' for Netflix Gaming, Says Arkadium Co-Founder
Streaming giant Netflix has thrown its hat into the ring with some video game offerings of its own so far, but the hurdles to gaining market share in the space might be daunting despite recently acquiring its third game development studio. Kenny Rosenblatt, the president and co-founder of casual game maker Arkadium, joined Cheddar to offer his view of where things are headed for Netflix. "Microsoft entered the video game market in 1990, years ago with 'Windows Solitaire. It has taken them that long to become the player that they are today," he said. "So I like what Netflix is doing. Slow and steady wins the race."
Stocks Close Near Session Highs in Another Strong Day for Markets
U.S. stocks closed Tuesday's session near session highs. The Dow Jones Industrial Average rose 350 points, after rising more than 400 points at its session high. Shares were also impacted positively by optimism around peace talks in Ukraine. Nancy Prial, Co-Chief Executive Officer & Senior Portfolio Manager of Essex Investment Management, joins Cheddar News' Closing Bell to discuss.
Online Used Furniture Marketplace Kaiyo Raises $36 Million
Food, paper, and plastic are known to be major factors when it comes to America's trash; but furniture is high on that list, as well. According to the EPA, furniture makes up twelve million tons of waste in landfills every year. It's a problem that one online furniture store is trying to solve. Alpay Koralturk, Founder & CEO of Kaiyo, joins Cheddar News' Closing Bell to discuss.
Bitcoin & Other Major Cryptocurrencies Are Rallying
Bitcoin surged to its highest level on Monday since January 2nd. The gains also come after a late Sunday rally for the cryptocurrency, when it surpassed the key price of $45,000, and also turned positive for 2022. Matt Hougan, CIO of Bitwise Asset Fund, joins Cheddar News' Closing Bell to discuss what is behind the recent rallies for Bitcoin and other cryptocurrencies.
Load More