Roku down after media report that Trade Desk plan for TV operating system

Investing.comNov 20, 2024 3:16 PM

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Investing.com - Shares of Roku Inc (NASDAQ:ROKU). dropped as much as 8% in Wednesday after reports that digital advertising firm The Trade Desk (NASDAQ:TTD)was planning to launch a connected TV operating system by the second half of 2025.

The system, named Ventura, would in enter in a space currently dominated by platforms like Roku, Amazon (NASDAQ:AMZN) Fire TV, and Google (NASDAQ:GOOGL) TV.

Unlike its competitors, The Trade Desk does not own content or operate a supply-side platform, focusing instead on its demand-side platform, which enables advertisers to buy digital ad inventory in real time.

As per the report, the company has ruled out manufacturing hardware for Ventura, opting instead to partner with smart TV makers and distributors, such as airlines and hotel chains, to integrate the software into their devices.

Roku’s stock, already down more than 20% this year, fell further in Wednesday trading reflecting market fears that Ventura could have a dent in Roku and dominance of other players in the space, by offering manufacturers and advertisers a more neutral alternative to existing systems.

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