Roku to Acquire Frndly TV

Roku has clinched a deal to acquire the subscription streaming service Frndly TV for $185 million.

Frndly TV, launched in 2019, offers live TV, on-demand video and a cloud-based DVR for a monthly fee. It carries 50-plus pay-TV channels, including A&E, Hallmark Channel, The History Channel and Lifetime.

“Frndly TV’s impressive growth and expertise in direct-to-consumer subscription services make it a compelling addition to Roku,” said Anthony Wood, founder and CEO of Roku, Inc. “This acquisition supports our focus on growing platform revenue and Roku-billed subscriptions, with a live content offering our users love at an industry-leading price point.”

Frndly TV’s leadership will stay on following the transaction.

“We’re incredibly excited to join Roku and continue our mission to provide customers feel-good, quality entertainment as the most affordable live-TV subscription streaming service in America,” said Andy Karofsky, CEO and co-founder of Frndly TV. “Roku’s pioneering role in streaming and its longstanding commitment to customers align perfectly with our strategic vision. We believe this combination will help us accelerate subscription growth, given the alignment in core customer demographics and Roku’s leadership position in the connected TV ecosystem.”