Best Buy’s advertising platform gives Roku a leg up on the competition since it can now specifically target its viewers with commercials. This exclusive partnership is likely to result in even more profits for both companies in the future.
Best Buy’s partnership with Roku is likely a sign of things to come for the retail giant. With its advertising business, Best Buy Ads, set to launch in early 2022, the retailer is looking to focus on targeting specific consumers through advertising. This arrangement with Roku allows the streaming platform access to Best Buy’s data in order to better target ads toward its users.
Best Buy is partnering with Roku to create a future of entertainment and advertising. Together, they will work to simplify the TV experience and offer the right marketing, data, tech, and scale to drive real results. This alliance will help Roku win the entire streaming ecosystem.
Since Roku is Independent, it doesn’t have much in the way of ad restrictions. In fact, Roku claimed that combining their data with Best Buy’s will allow brands to target and optimize their ads for the streaming platform in a more performance-driven way. This could be advantageous for both parties as it allows brands to reach a wider audience while also reducing budget waste on unproductive campaigns. Additionally, it seems as though this partnership could help increase Roku’s user base – currently at 70 million active profiles CC
With so many viewers turning to streaming services and retailers like Amazon to purchase products, advertisers are beginning to see these media platforms as a more effective way to reach their target audience. In 2022, 82% of U.S. advertisers anticipated an increase in spending levels with retail media networks due in part to the growth of streaming services and brick-and-mortar stores.
The South by Southwest (SXSW) event-goers can experience Roku’s screensaver, Roku City, as well as a Best Buy home theater experience with the latest Roku devices. These experiences will also feature upcoming original content from Roku such as an adaptation of Ernest Cline’s novel Ready Player One and a new legal drama series called Fukuoka.