Roku just announced a partnership with Shopify: find out more

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Written on Jul 12, 2023

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Roku partners with Shopify to enable viewers to shop right from the TV sets.
The deal will help Shopify advertisers with more insights into purchasing trends.
Roku shares have now nearly doubled versus the start of the year 2023.

Shares of Roku Inc (NASDAQ: ROKU) opened about 5.0% up today after the streaming-media company announced a new partnership with Shopify Inc (NYSE: SHOP).

Here’s what we know so far

Viewers will now be able to conveniently shop at the online store right from their television sets.

They’d be able to pay for the purchase using Roku Pay, as per the press release. According to Peter Hamilton – Senior Director of Ad Innovation at Roku Inc:

This is a great example of Roku’s unique platform position to make advertisers unmissable across the streamer’s journey, from power on to purchase complete.

Roku shares are now up close to 100% versus the start of this year. Still, the California-based company remains a favourite for the famed investor Cathie Wood (find out more).

What’s in it for Shopify advertisers?

Working with Roku will also enable Shopify advertisers collect more data and insights to better analyse purchasing trends. Mani Fazeli of the eCommerce company said today:

By partnering with Roku to make Shopify Checkout available through new channels, we’re making it easier for more brands to drive deeper engagement and reach new audiences.

The press release named Ergatta, True Classics, and Olly as initial ad partners. The initiative relies on “Roku Action Ads” – a platform that connects consumers directly with advertisers.

Roku is scheduled to report its Q2 earnings on July 27^th. Consensus is for it to lose $1.21 per share this quarter versus 82 cents per share a year ago.