The partnership comes as both first-party data continues to be a hot commodity for advertisers and competition in the streaming space paces to an all-time high. Although more inventory, such as Disney+ and Netflix, has entered the market, premium streamers have scarcity built into their decreased-ad-load models.
In addition to the company’s data partnership, Best Buy will be the exclusive seller of Roku’s first self-produced TVs. The Roku Select and Plus Series TVs host the company’s interface on its own device and are available for purchase in Best Buy locations. The two companies will unveil the deal at SXSW on March 11, with a physical and interactive recreation of its popular Roku City screensaver, which plays on Roku devices when left idle.
“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,” said Julian Mintz, co-head of U.S. brand sales for Roku Media, in a statement.
The announcement marks the first time Best Buy has brought its first-party data to a TV platform; however, Best Buy isn’t Roku’s first retail partnership. The CTV company announced a partnership with Walmart last year to build its shoppable advertising product.