TV platform Roku has announced a connected TV (CTV) partnership Currys Connected Media, the retail media arm of the electronics retailer.
In a first for Roku UK, Currys and its partner brands will be able to access Roku’s ad inventory, starting with video ads. There are plans to expand to other ad formats.
Currys Connected Media launched at the end of 2023 to enable partner brands to leverage the retailer’s first-party data.
The Roku partnership enables Currys and its partner brands to reach customers across all Roku devices in the UK, including streaming players and Roku TV models.
Ads will be targeted using first-party data from Roku and insights from Currys, served through a third-party demand-side platform. According to Roku, this allows brands to deliver relevant messaging to target customers on the biggest screen in the home while keeping customer data secure.
Andy Barratt, head of retail media at Currys, said: “This agreement enables us and our brand partners to capitalise on changing consumer viewing habits, reach and engage consumers with ads that are much more relevant to their interests, and in turn deliver tangible returns.”
Analysis: Retail media and CTV convergence
Roku’s move is another example of not just the growing importance of retail media but also its increasing focus on CTV.
The platform had previously struck similar deals in the US, including with Walmart and Best Buy.
Walmart’s acquisition of Vizio in the US in February was widely seen as a major move in the convergence of these two channels.
Amazon’s roll-out of advertising to Prime Video could also be considered as a retail media play, as the company combines advertising on its streaming platform with its own retail data.
Warc’s Global Ad Spend Outlook 2024/25 forecast retail media to be the fastest-growing channel over the next three years. The second strongest-growing channel is expected to be CTV.
While CTV is growing strongly in Europe, it still lags behind the US in size. In fact, a report in May found that a lack of understanding of its benefits and perceived high costs are holding back investment in CTV advertising in the UK.
ITV has made an early foray into combining retail media and CTV. Its AdLabs division launched the Matchmaker solution in late 2021, with FMCG advertisers taking a part in a trial to enhance their VOD targeting.
In a piece for The Media Leader earlier this month, Sam Knights, CEO at SMG, pointed to the importance of CTV in the retail media ecosystem as it continues to grow.
“Creating robust, long-term CTV integration will be critical to rebalancing investment in retail media,” he wrote. “Physical retailers have much ground to make up against Amazon.”
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