Roku and Best Buy have entered into a partnership to collaborate on advertising and consumer data and to offer exclusive access to Roku-branded TVs. For Best Buy, it marks the first time that it has partnered with a TV streaming platform to share its first-party sales data. The partnership will allow Roku to leverage Best Buy’s data to target advertisements. The companies assert that combining the data will make TV advertising more performance-driven, with brands able to target, optimize and measure their ads on the streaming platform using Best Buy shopper data.
Julian Mintz, co-head of U.S. brand sales for Roku Media, said in a statement that the companies aim to build the future of entertainment and advertising. “We’re making the TV experience simpler, offering the right marketing, data, tech and scale to drive real results and helping win the entire streamer’s journey together with Best Buy”, Mintz added. Roku recently exceeded 70 million active accounts.
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The partnership reflects a change in how advertisers are spending, as they look towards streaming and retail media to connect with a broader audience. According to eMarketer, 82% of US advertisers expected to increase their spending on retail media networks in 2022.
In addition to the partnership, the two companies also announced an interactive activation to be launched at South by Southwest (SXSW), where attendees can experience Roku’s screensaver, Roku City, as well as a Best Buy Home Theater Experience featuring the latest Roku devices available at Best Buy and Roku’s upcoming original content slate, among other titles on The Roku Channel.