Analysts Offer Insights on Communication Services Companies: Roku (NASDAQ: ROKU), AT&T (NYSE: T) and T Mobile US (NASDAQ: TMUS)We believe, and most investors agree, that rising time spent drives pricing power and is a leading indicator to revenue growth upside. Roku discloses total viewing hours (ie, engagement) every quarter. The chart below shows that Roku's total engagement time grew at 55%-60% each year for the first 4 years after its IPO, through COVID. Growth post-COVID stepped down to about 20% each year, and has been stable for the past 3 years. We expect 2025 rev growth to be similar, at 18%, reaching 150B of total viewing hours in FY25. This strong y/y engagement growth is a leading indicator of rev growth, we believe.Revenue Roku tells us that The Roku Channel (TRC) viewing hours grew at 65%-85% in FY23 and FY24, and that TRC was the #2 highest viewed app in 1Q25.