Ian Peterson's questions to Roku Inc (ROKU) leadership • Q3 2024
Question
On behalf of Mark Mahaney, Ian Peterson asked about the contribution from political ad revenue in Q3 and Q4, and for color on potential headwinds in the Q4 platform guide from lapping prior-year subscription price increases.
Answer
CFO Dan Jedda confirmed that political ad revenue was strong in Q3 and is factored into the Q4 guide, but noted Q4 has only one month of political spend. He did not characterize lapping subscription price increases as a headwind, instead reiterating that brand advertising (excluding M&E) continues to accelerate at a healthy clip. He and President of Roku Media Charlie Collier added that while M&E comps are not easy, Roku is well-positioned to grow its ad business even in a challenged M&E environment.