Best Buy is partnering with Roku to use first-party data from Best Buy to target ads on Roku's platform.
The partnership will allow the two companies to combine their strengths in Connected TV (where Roku is a leader) and Retail Media Networks (where Best Buy is a leader).
82% of advertisers are expected to increase their investment in retail media this year.
- Roku's Connected TV network already reaches more than 70 million viewers.
- The partnership comes as both companies are struggling. Best Buy's revenues were down 10% last quarter, while Roku recently lowered its 2023 forecasts.
- As part of the partnership, Best Buy will be the exclusive distributor of Roku's new Roku Select and Plus Series televisions.
