Roku and Best Buy today announced that as part of their new market-first partnership, Roku gains access to Best Buy’s advertising platform. Plus, Best Buy customers have exclusive access to Roku-branded TVs.
The relationship is a first for Best Buy, as it has never partnered with a streaming TV platform to provide its proprietary 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 are bringing our entire business together to build the future of entertainment and advertising by simplifying the TV experience, delivering the right marketing, data, technology and scale to drive real results, and helping win the entire broadcaster journey together with Best. Shop,” 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-based. Brands can target, optimize and measure their ads on the streaming platform using Best Buy shopper data, ensuring that Roku viewers see ads that matter to them, Roku and Best Buy explained. Roku recently surpassed 70 million active accounts.
The association points to a shift in the way advertisers spend as they lean toward streaming and retail media to reach a larger number of consumers. By 2022, 82% of US advertisers anticipated increased spending levels with retail media networks, according to eMarketer.
Roku and Best Buy also announced an interactive in-person activation launching at South by Southwest (SXSW) on March 11, allowing event attendees to experience Roku’s screen saver, Roku City, as well as a home theater from Best Buy featuring the latest Roku devices available at Best Buy and upcoming Roku original content, among other titles on The Roku Channel.