The new streaming service is "priced at less than a cup of coffee," Roku's founder and CEO Anthony Wood said in a statement alongside the announcement, where he also clarified that although it's cheaper than Netflix, Disney+, and other rivals, it's "designed to complement, not compete with, premium services".

Roku on Tuesday announced a new ad-free streaming service for $2.99 a month, the cheapest price point in the U.S. by a major company.

Roku has just announced its new ad-free subscription streaming service, Howdy, priced at just $2.99 per month –”less than a cup of coffee.” The new streaming service is designed to complement existing streaming services,