Roku and Best Buy announced today that Roku will gain access to Best Buy’s advertising platform as part of their new first-to-market partnership. Also, Best Buy customers have exclusive access to Roku-branded TVs.
The relationship is a first for Best Buy, as it never partners with a TV streaming platform to provide its first-party sales data. The new deal will allow Roku to use the retailer’s data to target ads. Best Buy launched his advertising company, Best Buy Ads, in January 2022.
“We are bringing our entire company together to build the future of entertainment and advertising – making the TV experience simpler, providing the right marketing, data, technology and scale to deliver real results, and together with Best helping the entire journey of the streamer Buy,” Julian Mintz, co-head of US brand sales for Roku Media, said in a statement.
The companies claim that combining the data will make TV advertising more performance-oriented. Brands can target, optimize and measure their ads on the streaming platform using Best Buy shopper data so that Roku viewers see ads that interest them, Roku and Best Buy explained. Roku recently surpassed 70 million active accounts.
The collaboration signals a shift in how advertisers spend as they lean towards streaming and retail media to reach a wider range of consumers. By 2022, 82% of US advertisers expected an increase in spending levels with retail media networks, by eMark.
Roku and Best Buy also announced an in-person, interactive activation launching March 11 in South by Southwest (SXSW) for event attendees to experience Roku’s screensaver, Roku cityas well as a Best Buy Home Theater experience that includes the latest Roku devices available at Best Buy and Roku’s upcoming original content listing on The Roku Channel.