*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
Fireside Sparks the Future of Entertainment With Interactive Content, Creative Ownership
The future of entertainment is interactive, according to the creators of the Fireside app. Mark Cuban and Falon Fatemi say that more and more, audience members will want to be part of the live content they are watching, and Fireside helps content creators do just that. They can create a live audience Q&A, facilitate a discussion, and more, all with the click of a button in the app. Creators also have full control of how they distribute and monetize each piece of content they create. Fatemi, CEO & Co-Founder of Fireside, joins Cheddar to discuss the app's interactive content features, what users and creators can get out of the app, plans for NFT and other virtual products, and more.
Forecasting the Weather With Atmo's Game-Changing Supercomputer
Predicting the weather is always a tall task, but it's even more difficult in third-world countries. Atmo is looking to make it easier for the world to forecast the weather with its game-changing Supercomputer. Atmo's CEO Alexander Levy and VP of Government Relations Anna Prouse joined Cheddar News' Closing Bell to talk all about the company's supercomputer and its impact in Uganda.
Cryptocurrencies in Focus as Fed Decision Looms and Volatility in Crypto Market Continues
Tim Davis, Partner and Executive Managing Director at Steward Partners, joins Cheddar News' Closing Bell, where he discusses what activity we could expect to see from the crypto market this week as the Fed decision approaches, the prices of Bitcoin and Ether struggle to find a spark, and the industry continues to digest President Biden's executive order on crypto.
Propel Raises $50 Million to Provide Financial Tools to Low-Income Americans
Mission-driven fintech company Propel raised $50 million in a Series B round led by Nyca Partners. Propel's mission is to help low-income Americans improve their financial health. The company's free app is called Providers, designed as a one-stop-shop for Americans to manage government benefits and other income side-by-side. Jimmy Chen, founder and CEO of Propel, joins Cheddar News' Closing Bell to discuss.
Slingshot Aerospace Raises $25 Million to Improve Space Sustainability
Slingshot Aerospace, a company focused on the future of space sustainability, raised $25 million in its latest Series A funding round. The company's projects will allow commercial, government, and civil satellite operators to share traffic information. Slingshot Aerospace's co-founder and CEO Melanie Stricklan joined Cheddar News' Closing Bell to talk about the up-and-coming company.
Ukrainian Drone Company Volunteers Its Tech to War Effort
A Ukrainian drone company is using its technology to help defend its home nation during the ongoing war with Russia. Valerii Iakovenko, co-founder and CEO of DroneUA, joined Cheddar News to discuss its efforts to help against the invasion. "These drones can be used to do strikes more precise and even cheap drones, even simple technologies can help to make a defensive possibilities more precise," he said.
Load More