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Roku partners with Best Buy and its advertising business to get first-party shopper data

Roku and Best Buy announced today that as part of their new first-to-market partnership, Roku gets access to Best Buy’s advertising platform. Also, Best Buy customers have exclusive access to Roku-branded TVs.
The relationship is a first for Best Buy since it’s never partnered with a TV streaming platform to provide its first-party 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’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,” Julian Mintz, co-head of U.S. brand sales for Roku Media, said in a statement.
The companies claim that combining the data will make TV advertising more performance-driven. Brands can target, optimize and measure their ads on the streaming platform using Best Buy shopper data, ensuring Roku viewers see ads that interest them, Roku and Best Buy explained. Roku recently surpassed 70 million active accounts.
The partnership points to a shift in how advertisers are spending, as they lean toward streaming and retail media to reach a larger number of consumers. In 2022, 82% of U.S. advertisers anticipated an increase in spending levels with retail media networks, per eMarketer.
Roku and Best Buy also announced an in-person, interactive activation which will launch at South by Southwest (SXSW) on March 11, allowing event-goers to experience Roku’s screensaver, Roku City, as well as a Best Buy Home Theater Experience that features the latest Roku devices available at Best Buy and Roku’s upcoming original content slate among other titles on The Roku Channel.

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Roku partners with Best Buy and its advertising business to get first-party shopper data by Lauren Forristal originally published on TechCrunch
Roku partners with Best Buy and its advertising business to get first-party shopper data

Pandora launches interactive voice ads into beta testing

Pandora is launching interactive voice ads into wider public testing, the company announced this morning. The music streaming service first introduced the new advertising format, where users verbally respond to advertiser prompts, back in December with help from a small set of early adopters, including Doritos, Ashley HomeStores, Unilever, Wendy’s, Turner Broadcasting, Comcast and Nestlé.
The ads begin by explaining to listeners what they are and how they work. They then play a short and simple message followed by a question that listeners can respond to. For example, a Wendy’s ad asked listeners if they were hungry, and if they say “yes,” the ad continued with a recommendation of what to eat. An Ashley HomeStores ads engaged listeners by offering tips on a better night’s sleep.
The format is meant in particular to aid advertisers in connecting with users who are not looking at their phone. For example, when people are listening to Pandora while driving, cooking, cleaning the house or doing some other hands-free activity.
Since their debut, Pandora’s own data indicated the ads have been fairly well-received, in terms of the voice format; 47% of users said they either liked or loved the concept of responding with their voice, and 30% felt neutral. The stats paint a picture of an overall more positive reception, given that users don’t typically like ads at all. In addition, 72% of users also said they found the ad format easy to engage with.
However, Pandora cautioned advertisers that more testing is needed to understand which ads get users to respond and which do not. Based on early alpha testing, ads with higher engagement seemed be those that were entertaining, humorous or used a recognizable brand voice, it says.

As the new ad format enters into beta testing, the company is expanding access to more advertisers. Advertisers including Acura, Anheuser-Busch, AT&T, Doritos, KFC, Lane Bryant, Purex Laundry Detergent, Purple, Unilever, T-Mobile, The Home Depot, Volvo and Xfinity, among others, are signed up to test the interactive ads.
This broader test aims to determine what the benchmarks should be for voice ads, whether the ads need tweaking to optimize for better engagement, and whether ads are better for driving conversions at the upper funnel or if consumers are ready to take action based on the ads’ content.
Related to the rollout of interactive voice ads, Pandora is also upgrading its “Voice Mode” feature, launched last year and made available to all users last July. The feature will now offer listeners on-demand access to specific tracks and albums in exchange for watching a brand video via Pandora’s existing Video Plus ad format, the same as for text-based searches.
 

Pandora launches interactive voice ads into beta testing

Our favorite startups from 500 Startups’ 18th class

 500 Startups’ 18th demo day wrapped up this afternoon in San Francisco. The companies that presented ranged from financial technology all the way to yet another attempt to try and fix conference calls. 500 Startups has to compete with a lot of other accelerators like Techstars and Y Combinator, and in order to be successful it needs to generate hits from these classes. The firm has had… Read More

Our favorite startups from 500 Startups’ 18th class