Roku announced a new affordable streaming player called Roku LT that is priced just $49.99 and features more than 300 channels including Netflix, Hulu Plus, Amazon Instant Video, Pandora, EPIX, Disney and HBO GO.

“Our goal is a Roku in every home,” said Roku Founder and CEO Anthony Wood. “The Roku LT opens up streaming to more people by lowering the cost of entry in these difficult economic times. With a $49 price and selection of more than 300 channels we expect the Roku LT will be everyone’s favorite Holiday device.”

The Roku LT streams 720p HD video and features built-in WiFi. It will be available in November on Roku.com, Amazon and in retail stores.