Yahoo Finance Roku partners with Best Buy and its advertising business to get first-party shopper data
Roku and Best Buy announced today that as part of their new first-to-market partnership, Roku gets access to Best Buy’s advertising platform. Also, Best Buy customers have exclusive access to Roku-branded TVs.
The relationship is a first for Best Buy since it’s never partnered with a TV streaming platform to provide its first-party sales data. The new deal allows Roku to use the retailer’s data to target ads. Best Buy launched its advertising business, Best Buy Ads, in January 2022.
“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 win the entire streamer’s journey together with Best Buy,” Julian Mintz, co-head of U.S. brand sales for Roku Media, said in a statement.
The companies claim that combining the data will make TV advertising more performance-driven. Brands can target, optimize and measure their ads on the streaming platform using Best Buy shopper data, ensuring Roku viewers see ads that interest them, Roku and Best Buy explained. Roku recently surpassed 70 million active accounts.
The partnership points to a shift in how advertisers are spending, as they lean toward streaming and retail media to reach a larger number of consumers. In 2022, 82% of U.S. advertisers anticipated an increase in spending levels with retail media networks, per eMarketer.
Roku and Best Buy also announced an in-person, interactive activation which will launch at South by Southwest (SXSW) on March 11, allowing event-goers to experience Roku’s screensaver, Roku City, as well as a Best Buy Home Theater Experience that features the latest Roku devices available at Best Buy and Roku’s upcoming original content slate among other titles on The Roku Channel.
