Roku and Best Buy Help Create Better TV Experience through New Advertising and Retail Relationship

Rhea-AI Summary

Roku and Best Buy have formed a first-to-market partnership that includes exclusive in-store availability of Roku-branded TVs and enhanced advertising collaboration. The partnership allows Best Buy to offer first-party data for targeted advertising, optimizing ad performance for brands. Roku Select and Plus Series TVs are available exclusively at Best Buy, while the collaboration promotes a better consumer experience in streaming TV. An activation event at SXSW on March 11-12 will showcase this relationship further. This initiative aims to accelerate growth in the streaming TV sector, targeting advertisers' increasing investments in retail media networks.

Positive

• First-to-market relationship with Best Buy enhances Roku's advertising sales capabilities.
• Exclusive availability of Roku-branded TVs strengthens brand presence in retail.
• Consumer electronics brands are projected to increase their spending on retail media.

Negative

• None.

Multifaceted first-to-market relationship includes exclusive in-store availability of new Roku-branded TVs, enhanced advertising sales relationship, and in-person SXSW activation

SAN JOSE, Calif.--(BUSINESS WIRE)-- Today, Roku, (Nasdaq: ROKU) the #1 TV streaming platform in the U.S., Canada, and Mexico*, and Best Buy (NYSE: BBY), the leading consumer tech retailer in the U.S., announced a first-to-market relationship across their advertising and retail businesses. For the first time, Best Buy is partnering with a TV streaming platform to provide its first-party data for targeting and closed-loop measurement. Best Buy will also give shoppers exclusive access to Roku-branded TVs.

This year, consumers and marketers are set to spend more on streaming TV. Together, Roku and Best Buy will create a better TV experience for their mutual customers and partners. (Graphic: Business Wire)

This year, consumers and marketers are set to spend more on streaming TV. Together, Roku and Best Buy will create a better TV experience for their mutual customers and partners including:

• Roku Select and Plus Series TVs Exclusive Availability at Best Buy: The first-ever TVs to be designed and made by Roku, the Roku Select and Plus Series TVs are now available in the U.S. exclusively at Best Buy stores and BestBuy.com.
• Roku Advertising and Best Buy Ads: Best Buy and Roku will pair industry-leading data to make TV advertising more relevant and performance-driven. Brands will be able to work with Best Buy and Roku to target, optimize, and measure their ads on Roku using Best Buy shopper data to ensure consumers are seeing the advertising content that most interests them.
• Best Buy Home Theater Experience: The relationship is kicking off with an in-person, interactive activation at SXSW on March 11. For the first time, Roku will bring its iconic Roku City screensaver to life with an interactive, multi-level activation at SXSW. To the delight of streamers, creators, and advertisers alike, the immersive pop-up will feature a Best Buy Home Theater Experience, showcasing the latest Roku devices available at Best Buy as well as new Roku Originals and featured entertainment on The Roku Channel.

The relationship signals the ambition to accelerate the shift into streaming TV and retail media. According to eMarketer, in 2022, 82% percent of U.S. advertisers planned to increase spending levels with retail media networks like Best Buy Ads. Consumer electronics brands are among the leaders in this growth. Roku’s scale of 70 million active accounts paired with Best Buy’s millions of customers will help advertisers make their marketing more impactful and effective.

“Our goal is to create a better TV experience for everyone,” says Julian Mintz, Co-Head of U.S. Brand Sales for Roku Media. “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.”

“Roku City featuring the Best Buy Home Theater Experience” will be open to the public on March 11-12 from 11:00 AM – 6:00 PM, local time. The pop-up will be located at the Riley Building: 315 Lavaca Street, Austin, Texas. For additional details and entry information, please visit Roku City.

For more information on the Roku and Best Buy relationship, visit our blog.

*based on hours streamed, Dec 2022, Hypothesis Group

About Roku

Roku pioneered streaming to the TV. We connect users to the streaming content they love, enable content publishers to build and monetize large audiences, and provide advertisers with unique capabilities to engage consumers. Roku streaming players and TV-related audio devices are available in the U.S. and in select countries through direct retail sales and licensing arrangements with service operators. Roku TV™ models are available in the U.S. and in select countries through licensing arrangements with TV OEM brands. Roku is headquartered in San Jose, Calif. U.S.A.

This press release contains “forward-looking” statements that are based on our beliefs and assumptions and on information currently available to us on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include but are not limited to trends related to TV streaming and advertising; the parties’ entry into a partnership; and the features, benefits, growth and reach of the Roku TV program and the Roku platform. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Important factors that could cause our actual results to differ materially are detailed from time to time in the reports Roku, Inc. files with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2022. Copies of reports filed with the SEC are posted on Roku’s website and are available from Roku without charge.

Roku is a registered trademark of Roku, Inc. in the U.S. and in other countries. Trade names, trademarks and service marks of other companies appearing in this press release are the property of their respective holders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230310005244/en/

Media Contact

Sarah Saul

AdsPR@roku.com

Source: Roku

FAQ

What is the new partnership between Roku and Best Buy?

Roku and Best Buy have launched a first-to-market partnership that includes exclusive availability of Roku-branded TVs and enhanced advertising collaboration.

When will the Roku City activation take place?

The Roku City activation will take place on March 11-12 at SXSW in Austin, Texas.

How will Best Buy's data benefit Roku's advertising?

Best Buy will provide first-party data for targeting and measuring ad performance, allowing for more relevant advertising on Roku's platform.

What new products are being offered by Roku at Best Buy?

Roku Select and Plus Series TVs are now available exclusively at Best Buy stores and online.

What is the significance of the Roku and Best Buy relationship for advertisers?

The partnership enables brands to leverage Best Buy's shopper data to optimize and measure their ads on Roku, enhancing advertising effectiveness.