*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
Elizabeth Holmes Awaits Jury's Verdict in Day 6 of Deliberations
Jurors in the trial against Theranos CEO Elizabeth Holmes have entered day six of deliberations. Holmes is accused of lying to investors about the functionality of a newly developed blood-testing technology. Andrew George, partner at Baker Botts, joined Cheddar to break down key points in the case and what the jury might be considering during their deliberations. He also noted that the rest of Silicon Valley, including Holmes' business partner, Ramesh "Sunny" Balwani, who is facing identical charges, is closely watching the outcome of deliberations — as it could set the tone for future regulations and Balwani's own trial.
Volatile Crypto Derivatives Market Fuels Bitcoin's Latest Downturn
While slumps within the crypto market have typically correlated with major developments, such as China's crypto crackdown or Tesla reversing course on accepting bitcoin, the current slide is coming at a time when the stock market is at or near record levels. Reporter Alex Vuocolo talks about the role of the crypto derivatives market in bitcoin's latest price drop, as well as the future of sustainability in the space.
Robocalls More Than Doubled in 2021
According to a recent report from T-Mobile, spam call traffic doubled in 2021. The company says so far they have been able to block just 21 billion spam calls for their customers this year. Despite telecom giants blocking these calls, a number of customers continue to receive these spam calls, especially during the holiday season. Founder and President of Vertical Consultants Hugh Odom, joined Cheddar to discuss more.
Former Twitter CEO Jack Dorsey and Andreessen Horowitz Co-Founder Marc Andreesseen Clash Over Web3
Venture capitalists and CEOs are clashing over the future of the internet. Web3 is the tech world's name for a decentralized, blockchain-based internet that runs on cryptocurrency. It was recently the topic of a tweet from Block CEO and former Twitter CEO Jack Dorsey who wrote that Web3 will not actually be owned by users, and instead be controlled by rich venture capitalists. Dorsey later shared that he was blocked on Twitter by Marc Andreesen, co-founder of VC firm Andreesen Horowitz, which has invested billions of dollars into Web3 and crypto projects. Correspondent for DealBook from the New York Times, Ephrat Livni, joins Cheddar News' Closing Bell to discuss what this could mean for the future of Web3.
Load More