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NEW YORK - Roku and FreeWheel, a division of media giant Comcast (market cap: $114.79B), announced Tuesday an expansion of their partnership that aims to improve targeting, transparency and efficiency in the streaming advertising marketplace.
The collaboration establishes FreeWheel’s Streaming Hub as a key platform for Roku Advertising, allowing Roku’s premium connected TV inventory to be activated with enhanced demand signals and more efficient monetization.
Under the expanded partnership, Roku will be able to manage both direct-sold and programmatic campaigns while accessing demand via the FreeWheel Marketplace. Publishers will gain direct access to Roku’s supply through a standardized, Open Real-Time Bidding connection.
"This collaboration with FreeWheel is a great opportunity to represent supply to buyers and deliver a more efficient, data-rich environment," said Miles Fisher, Senior Director of Strategic Advertising Partnerships at Roku.
The partnership marks a shift in Roku’s relationship with FreeWheel, transitioning from a demand partner to a full platform client. This change is expected to create greater scale for buyers to transact more efficiently with Roku inventory through a direct path to the FreeWheel Advertiser Suite.
Greg Bel, Vice President and Head of Supply at FreeWheel, described the collaboration as "a game changer for the CTV ad marketplace," citing the combination of Roku’s scale in connected TV and FreeWheel’s premium content connections.
Media companies including NBCUniversal, another Comcast subsidiary contributing to the parent company’s impressive $124.18B in annual revenue, and Warner Bros. Discovery have expressed support for the partnership, noting its potential to create more transparency and efficiency in the streaming marketplace. According to InvestingPro analysis, Comcast maintains a "Good" financial health score and appears undervalued at current market prices.
Roku is currently the leading TV streaming platform in the U.S. by hours streamed, according to information provided in the company’s press release statement. For deeper insights into Comcast’s streaming business and comprehensive financial analysis, check out the detailed Pro Research Report available exclusively on InvestingPro, along with 10+ additional ProTips and extensive financial metrics.
In other recent news, Comcast Corporation has completed exchange and cash offers for several series of its outstanding notes, issuing approximately $692 million in new debt. The new notes, due in 2037, carry an annual interest rate of 5.168%, with interest payments starting in January 2026. Additionally, Comcast-owned NBCUniversal has reached a long-term agreement with Google to keep NBC shows available on YouTube TV, ensuring a multi-year commitment for carrying NBCUniversal’s full portfolio of networks. In leadership developments, Michael J. Cavanagh will be appointed Co-CEO alongside current Chairman and CEO Brian L. Roberts, effective January 2026, and will join the Board of Directors. Analyst firms have also adjusted their outlooks on Comcast, with KeyBanc lowering its price target to $43 while maintaining an Overweight rating, citing concerns about broadband subscriber numbers. Similarly, BofA Securities has reduced its price target to $36, maintaining a Neutral rating as Comcast navigates a competitive broadband landscape. These developments reflect ongoing strategic adjustments and partnerships within Comcast.
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