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Roku, Inc. (NASDAQ:ROKU) shares are trading lower on Wednesday.
The company partnered with the National Basketball Association to officially launch the NBA FAST (free ad-supported streaming TV) channel and the NBA Zone.
“The Roku Channel is the inaugural partner of the first-ever NBA FAST channel, which is available exclusively through The Roku Channel for a limited time,” according to a press release.
NBA enthusiasts and Roku viewers can keep abreast of their beloved teams and access the latest news, game highlights, and more, the company said.
The NBA Zone is situated within Roku’s Sports section on the Home Screen Menu, while users can easily search for related content using Roku Search or Roku Voice.
According to Benzinga Pro, ROKU stock has lost over 5% in the past year. Investors can gain exposure to the stock via ARK Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE:ARKW).
The company recently faced backlash from users nationwide after implementing a mandatory agreement to new dispute resolution terms, which included forced arbitration, effectively barring users from participating in lawsuits against Roku.
Users found their devices inoperable until they agreed to these terms.
A critical update to the terms introduced an “Informal Dispute Resolution” process, requiring legal complaints to be addressed directly with Roku’s legal team first.
Price Action: ROKU shares are trading lower by 1.33% to $62.02 on the last check Wednesday.
Photo by rafapress on Shutterstock
