Roku CEO, Unruffled by Best Buy Phaseout of Some Smart TV Support, Looks to TV Upfronts
Roku is unfazed with Best Buy phasing out Roku support on Insignia-branded smart TVs under an exclusive partnership with Amazon last month (see 1804180027), said Roku CEO Anthony Wood on a Wednesday earnings call. Roku shares tumbled 12 percent the…
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day of the announcement. Roku is “deepening” its relationship with advertisers and content publishers, said Wood. “The $70 billion spent each year on TV advertising in the U.S. continues to shift to streaming as advertisers follow viewers.” This is the first spring the company is participating in the TV “upfront” season, "indicative of the fact that national advertisers are starting to think holistically about how to reach consumers in the living room and recognize that a larger and larger portion of their viewers are now only available” on over-the-top services, he said.