As part of their new first-to-market partnership, Roku will have access to Best Buy’s advertising platform, the companies announced today. Additionally, Best Buy clients have exclusive access to Roku-branded televisions.
Best Buy has never before partnered with a TV streaming platform to provide its first-party sales data, making this partnership a first. The new agreement permits Roku to target advertisements using the retailer’s data. In January 2022, Best Buy launched its advertising business, Best Buy Ads.
Julian Mintz, co-head of U.S. brand sales for Roku Media, said in a statement, “We’re bringing together our entire business to build the future of entertainment and advertising — making the TV experience simpler, offering the right marketing, data, tech, and scale to drive real results, and helping Best Buy win the entire streamer’s journey.”
The companies assert that combining the data will increase the effectiveness of television advertising. Roku and Best Buy explained that brands can target, optimise, and measure their ads on the streaming platform using Best Buy shopper data, ensuring that Roku viewers see ads that are relevant to them. Roku recently surpassed 70 million accounts in use.
The partnership indicates a shift in how advertisers allocate their budgets, with a greater emphasis on streaming and retail media to reach more consumers. According to eMarketer, 82% of U.S. advertisers anticipated an increase in spending with retail media networks in 2022.
Roku and Best Buy also announced an in-person, interactive activation that will launch at South by Southwest (SXSW) on March 11, allowing attendees to experience Roku’s screensaver, Roku City, as well as the latest Roku devices available at Best Buy and Roku’s upcoming original content slate, among other titles on The Roku Channel.