Leading CTV providers Roku Inc. (NASDAQ:ROKU) and Amazon.com Inc. (NASDAQ:AMZN) have introduced new features that seek to enhance access to live content by users on their platforms. This means that advertisers can reach huge audiences as consumers shift from cut the cord to streaming TV.
Roku and Amazon enhance their Live TV streaming platforms
Roku launched a new Live TV channel guide on the Roku Channel, a free ad-supported platform. The new feature offers users a way of discovering and watching live TV. This is a completely new experience on the channel that lets users go through an on-screen guide, and the pick shows to watch and easily switch between over 100 linear/live channels.
Ashley Hovey, Roku AVOD Growth Director, stated that they are committed to offering users easy access to free content like news and accessing it quickly. He added that they were pleased to improve the streaming experience of users through the Live Channel TV Guide and offer additional free content from the Roku Channel.
Amazon is also incorporating popular Live TV Streaming apps such as YouTube TV, Hulu+ Live TV, and SLING TV to its Fire TV Live TV discovery features. The integration of the skinny bundles to Fire TV well makes it easier for users to discover live streaming content. This makes it easier for users to browse through video steaming apps that offer live content streaming in a single hub.
CTV providers to capitalize on growing advertising
As cord-cutting grows among consumers, these initiatives aim to make the platforms replicate conventional cable TV experience. They enhance access and discovery of live streaming content in the platforms. The CTV providers are targeting more consumers to their platform. With an increase in user base, Roku and Amazon can then easily attract more advertisers into their platforms. The moves come as firms expect growing attention from advertisers with US CTV ad spending expected to reach around $8 billion this year, which is 25% YoY growth.