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Anthony Wood
Stephen Desaulniers | CNBC

Roku has built a dominant position as the co-leading streaming video distribution platform in U.S. households, in a near dead-heat with Amazon. The two companies own more than 70% market share, according to research firm Parks Associates.

But can Roku maintain its lead over Apple and Google if Americans’ future is a house controlled by a voice-enabled smart-home device that can turn on and off a television and change the channel?

That’s not what people want, claims Roku CEO and founder Anthony Wood. He spoke with CNBC’s Alex Sherman in an exclusive interview.

(This interview has been edited for length and clarity. Wood’s thoughts on Roku’s culture can be found here.)

Sherman: Let’s talk about interactivity. Is it just a matter of time before Roku lets me watch sports and bet from my TV at the same time and do other sorts of cool stuff people have never seen before?

Wood: It’s a complicated question. A couple points. One, it’s not as bad as it used to be, but even today, many companies just don’t really understand the attitude people have when watching TV. They want to sit there, drink their beer, and watch TV. You’ve seen over the years, there was this whole phase where there were interactive TV companies. They all failed, because people don’t want to do that. My philosophy is to keep things very simple. So any time interactive ideas have come up, we would not do that.

That said, there are some exceptions. For example, advertising — we offer interactivity to our ad partners. If you see an ad you’re interested in, like a car ad, you can browse, or do something simple like press a button and send me a text with an offer. So, we experiment with that type of interactivity because it doesn’t get in the way of the viewing experience. If you want to get a free coupon because you’re interested in a commercial, press a button, you can do that.

One of our main goals as a platform is to help you find content that you want to watch. Things like universal search — where you can search across services for an actor or a movie — and get information about if something is free on one service or you have to pay for it on another, that type of interactivity is something that people love, if it’s around discovering content. So, we’re looking for other ways to help people discover content that’s interactive in its nature.

In terms of sports betting — maybe. We’ll see.

Is the future of the TV ecosystem one where every device in the home is connected, and I just call out to my TV and it turns on, and I don’t need a remote anymore?

We are incredibly focused on being the best TV experience. That’s why we’re successful. There are a lot capabilities that I think are silly. People generally do not want to talk to their TV to turn it on, for example. Because as soon as you turn it on, you need to pick up your remote control anyway.

Well, you do today, maybe, but theoretically, you don’t have to, right? Why can’t I control everything by voice? Isn’t that easier?

I don’t think people want to talk to their TV. In cases where it’s faster and easier — search, for example — we make voice remotes. We focus on integrating voice into areas where it can really make a difference, like entering your password or your e-mail address or searching — those are things where it’s tedious to tap stuff out on your remote. But other areas, like just scrolling up and down or the power button, it’s actually easier to use the remote.

But I always lose my remote.

Well, that’s why we let you use your phone as a remote. We also have a cool feature called remote finder, where we help you find your remote for you. We’re big believers in remotes. You look at Chromecast, they made a huge bet that people wouldn’t use their remotes. That wasn’t the case.

One topic that investors are curious about is international expansion. Do you have a broad road map for international? I know you’re in Canada, Mexico and Brazil a little bit. But there’s a whole world out there. What’s the plan? Lay it out for us.

We have a strategy. We have tactics and road maps which we don’t disclose. But our strategy is pretty straightforward. If you look at the evolution of our business model, first we focus on scale, and once you have enough scale, then you start focusing on monetization. That’s the same strategy we’re talking on international. With most countries, we are still at the building scale stage as opposed to the monetization. There are some exceptions. With Canada, as you mentioned, that’s the first country we entered. Now we sell ads there and we have The Roku Channel there. So we’re doing monetization there.

The other part of our strategy is using the same techniques that have worked for us in the U.S. and applying them internationally. So, focus on growing our smart TV market share — we’re No. 1 in smart TV market share in the U.S. We’re No. 1 in Canada. We’re No. 2 in Mexico. Samsung is No. 1 there, but we’re catching up fast. So focusing on smart TVs and selling low-cost players is how we gain scale. For example, when we launch a player now, we launch it in many countries at the same time as opposed to just the U.S.

If you look at all the countries that we’ve entered, our market share is growing and we’re doing well. Android has been the default choice internationally for a long time because it was the only option. So they’re our biggest competitor. But as we add new countries and start focusing on them, we have an awesome solution. The same reason we’ve won in the U.S. is the same reason we expect to win internationally.

I’ll get into this in the main feature more in depth, but after you started Roku, you worked for Reed Hastings at Netflix for about nine months. Have you modeled your leadership at Roku after him? And if not, has there been anyone you’ve tried to emulate?

My relationship with Netflix is obviously very important to Roku, but I only worked there for nine months. It was nine months. It was a great experience. I’ve got lots of people I respect, but I haven’t tried to copy anyone in particular. I used to read a lot of business books when I was younger, but now I’ve stopped.

Is there a reason you stopped? Did you feel like you just didn’t get any use out of them anymore?

I think you go through different phases in your career. When you first start out, just like when you first start out in college, you just have no clue. So, reading books and talking to people is a good way to learn the basics. As you advance, I think, you become much more experienced, and you find that a lot of the books are not helpful. Like, “Oh yeah, if I didn’t know anything, that’s what I’d do,” but that’s not actually the right way to do it.

One of the best things I’ve done to help me build my skills since Roku has grown is to have an adviser — kind of like a coach. He used to be the CEO of a public company. So when I have issues, I talk to him. That’s David Krall. He was the CEO of Avid. He works one day a week for us being an adviser. Talking to an experienced CEO is helpful.

Describe yourself as a leader.

What I try to do is hire good people — people I want to work with, so there’s a good chemistry and team — and devise a strategy and some high-level goals. I might come up with the strategy or work with the team to develop the strategy, but there will be a strategy. I think I’m pretty strategic. And then, focus on execution, giving people the freedom and whatever they need to do their job. That’s what I spend my time on — hiring and strategy.

You’re 56 years old, is that right?

Maybe. That sounds right.

Do you expect to be running Roku as an independently traded company ten years from now?

I have no idea. I’m happy running Roku right now. I have no idea what I’m going to do 10 years from now.

Do you know who your successor at Roku will be?

All public companies have to have a succession plan, so we have one. I focus a lot on developing talent on my team. But often there’s talent outside the company as well. So, I don’t know. I have no plans to leave, but if we were to hire a new CEO, I’d imagine we’d look internally and externally.

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OpenAI’s shakeup plan gets SoftBank’s nod — all eyes now on Microsoft

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OpenAI's shakeup plan gets SoftBank's nod — all eyes now on Microsoft

OpenAI CEO Sam Altman speaks next to SoftBank CEO Masayoshi Son after U.S. President Donald Trump delivered remarks on AI infrastructure at the Roosevelt Room in the White House in Washington on Jan. 21, 2025.

Carlos Barria | Reuters

OpenAI said last week that it would restructure in a format that allows its non-profit entity to retain ultimate control, a plan that on Tuesday received the blessing of one of the U.S. artificial intelligence startup’s biggest backers — Japanese giant SoftBank.

The endorsement of SoftBank — the first time the company has publicly green lit the plan — is key because the Japanese firm’s $30 billion investment in OpenAI announced this year was contingent on a change in structure.

In March, OpenAI closed a $40 billion funding round, receiving $30 billion from SoftBank. But if OpenAI doesn’t restructure into a for-profit entity by Dec. 31, SoftBank has previously said it could reduce its portion of the financing to $20 billion.

OpenAI announced this month that it would not fully turn into a for-profit entity after pressure from civic leaders and former employees. Instead, the non-profit arm would retain control of the company, while the limited liability company, which handles all of the business operations, would turn into a public benefit corporation. That means this division will have the ability to generate profit, but will also focus on social good.

The AI startup was originally looking to remove the control of the non-profit, a plan that drew criticism from many in the tech space, including rival and initial OpenAI co-founder Elon Musk.

Since the non-profit would retain control, and the original restructure plan was ditched, it was unclear if OpenAI’s major investors were on board.

But SoftBank’s finance chief Yoshimitsu Goto said during an earnings press conference on Tuesday that “nothing has really changed.”

“I don’t think that’s the wrong direction … that’s something that we expected,” Goto said, according to a company translation of his comments in Japanese.

He reiterated that OpenAI needs to complete the restructure by the end of this year.

There could still be stumbling blocks along the way. Microsoft, one of OpenAI’s biggest investors, has not approved the restructure, according to a Bloomberg report earlier this month. The Financial Times on Sunday reported that OpenAI and Microsoft are rewriting the terms of their multibillion-dollar partnership. Microsoft is the key holdout to OpenAI’s restructure plan, the FT added.

SoftBank’s Goto did not mention any other companies, but acknowledged that OpenAI has many stakeholders.

“Our conversation is based on the assumption that the reorganization will take place. There are different staekholders however and some people may intervene in this project and this may not go as smooth as we hope,” Goto said.

“But that’s out of our control. We will wait and see what happens.”

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Dubai government to accept crypto payments through Crypto.com partnership

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Dubai government to accept crypto payments through Crypto.com partnership

Crypto.com logo displayed on a phone screen with representation of cryptocurrencies.

Nurphoto | Nurphoto | Getty Images

Dubai’s Department of Finance announced a partnership with crypto platform Crypto.com that will allow government service fees to be paid with cryptocurrencies.

The memorandum of understanding between Dubai government officials and Mohammed Al Hakim, president of Crypto.com UAE, was signed Monday on the sidelines of the Dubai FinTech Summit.

Government officials said in a press release that the partnership will help achieve the “Dubai Cashless Strategy,” which seeks to solidify Dubai’s status as a leading digital city. The strategy aims to reach 90% cashless transactions across Dubai’s public and private sectors by 2026.

Once technical arrangements for the initiative are finalized, individuals and “businesses customers of government entities” will be able to pay service fees through digital wallets on Crypto.com.  

“The platform will securely convert these payments into Emirati dirhams and transfer them to Dubai Finance accounts, ensuring a streamlined, secure, and innovative payment framework,” Dubai Finance added. 

Bitcoin retreats as U.S. and China agree to pause some tariffs: CNBC Crypto World

Crypto.com’s Al Hakim called the initiative a “truly global first programme.” However, the announcement did not clarify what types of digital currencies the department of finance would accept, or for which types of government fees covered by the agreement. 

Crypto.com and Dubai Finance did not immediately respond to a request for comment from CNBC. 

Crypto.com first received a license for its Dubai entity to offer regulated virtual asset service activities in 2023. Last month, the company said Dubai’s virtual asset regulatory body had also issued a limited license to offer derivatives.

Dubai has been betting on the crypto industry for years as part of its ambition to become a global tech hub. 

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SoftBank Vision Funds swing to annual loss as investment gains slow by 40%

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SoftBank Vision Funds swing to annual loss as investment gains slow by 40%

SoftBank CEO Masayoshi Son delivers remarks next to U.S. President Donald Trump at an ‘Investing in America’ event in Washington, D.C., U.S., April 30, 2025.

Leah Millis | Reuters

Softbank‘s Vision Fund business on Tuesday posted a loss in the fiscal year ended March as it booked slowing gains at its massive tech investment arm.

SoftBank said it notched a gain on investment at its Vision Funds of 434.9 billion yen in the fiscal year, a 40% fall from the 724.3 billion yen booked in the previous year.

In its fiscal fourth quarter — the three months ended March — SoftBank’s Vision Funds segment recorded a 26.1 billion yen gain, helped by a rise in the value of TikTok owner ByteDance.

The Vision Fund segment overall logged a pretax loss of 115.02 billion yen ($777.7 mllion) versus a profit of 128.2 billion yen in the previous fiscal year.

For the latest fiscal year, SoftBank saw gains on its investments in Chinese ridehailing company Didi as well as South Korean e-commerce firm Coupang. However, the performance of its investment arm was hurt by a drop in value of companies including AutoStore.

The Vision Funds are a key focus for investors who are looking for signs of improvement at SoftBank’s huge investment arm, after it swung to a surprise loss in the company’s fiscal third quarter.

SoftBank’s investment division can be inconsistent, as it is driven by changes in public and private financial markets.

SoftBank’s stock is down about 17% this year as volatility in financial markets and concerns about the macroeconomic environment continues to weigh on the company.

SoftBank hits back at Stargate funding report

SoftBank founder Masayoshi Son has sought to position company as a key player in artificial intelligence through various investments and acquisitions. The firm owns the majority of semiconductor designer Arm and announced plans this year to acquire server chip designer Ampere Computing for $6.5 billion. Ampere’s semiconductors are designed to run AI applications.

One of SoftBank’s biggest AI bets has been on OpenAI, the creator of ChatGPT. SoftBank invested $30 billion in OpenAI as part of a broader $40 billion financing round in March that valued the startup at $300 billion.

Softbank is also involved in Stargate, a joint venture that was unveiled by U.S. President Donald Trump in January, calling for hundreds of billions of dollars of investment into AI infrastructure.

There are still questions about how SoftBank plans to finance these ventures and whether it will need to sell down some of its holdings in companies like Arm.

Citing people familiar with the matter, Bloomberg had on Monday reported that dozens of financial players are reassessing investment in data centers due to growing economic volatility, and SoftBank has yet to come up with a financing template for Stargate.

Yoshimitsu Goto, chief finance officer at SoftBank, said during a Tuesday press conference that media reports of banks hesitating to fund SoftBank’s efforts are not true.

“We are very much making progress,” Goto said.

He added there are around 100 proposals being made for sites to build data centers as part of Stargate, with the first facilities likely to be in Texas.

SoftBank swings to profit

SoftBank posted its first annual profit in four years at 1.15 trillion yen.

While the Vision Fund was an overall drag on profit, it was a big gain in SoftBank’s older investments in Alibaba, T-Mobile and Deutsche Telekom, that helped drive its overall profit.

Arm and SoftBank’s telecommunications business also contributed positively to the group’s overall profitability.

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