Roku Inc. (ROKU - Get Report) has beefed up its mobile streaming strategy by expanding the Roku Channel to include what the company called premium subscriptions in addition to ad-supported content on the mobile service.
The content streaming service will add more than 25 streams from premium providers like Showtime, Starz and Epix. Those streams will be in addition to the more than 10,000 free ad-supported movies and television episodes already on the the Roku Channel.
"We're focused on making it easy to find great entertainment of all types on the platform and adding Premium Subscriptions is a natural evolution for The Roku Channel," said Rob Holmes, Roku's vice president of programming and engagement.
"As a top five channel by active account reach, The Roku Channel is already a great source for free, ad-supported entertainment and provides significant user engagement," Holmes said.
Mobile users will be able to access the Roku Channel for the first time without having a Roku device.
Shares of Roku were down 3% Wednesday amid a market-wide selloff.
Roku went into a tailspin in 2018 after missing third-quarter revenue expectations and issuing weaker-than-expected guidance. The stock lost more than 40% in 2018. However, TheStreet's tech columnist Eric Jhonsa said he thinks Roku's strong user growth and profitability make its beaten-down share price very attractive right now.
Listen to Jhonsa's podcast on Roku here.