Best Buy is bolstering its retail media presence with the introduction of Best Buy CTV, a new advertising initiative unveiled during its annual showcase event. This latest venture aims to enhance the company’s advertising offerings by combining first-party shopper data, device ownership information, and purchase-intent signals with premium Connected TV (CTV) inventory in collaboration with partners such as LG, Roku, and Amazon.
New Opportunities for Advertisers
Through Best Buy CTV, advertisers will have the opportunity to utilise ad space on all Insignia TVs, the company’s house brand employing Amazon’s Fire TV as the operating system. This development is part of Best Buy’s strategy to find distinctive methods to aggregate supply for advertising clients, a goal underscored by Chief Ads and Media Officer Lisa Valentino.
Best Buy also highlighted its expansion into TikTok Shop, scheduled for late October, and its growth in the Best Buy Creator program. Both of these initiatives are designed to position Best Buy as a versatile advertising player capable of addressing diverse media challenges beyond mere transactional placements.
Strategic Growth and Leadership
Lisa Valentino, who joined Best Buy in 2024 and previously worked at the Walt Disney Company, leads the company’s vision for its advertising sector under CEO-elect Jason Bonfig. Valentino detailed that prioritising areas like CTV and social commerce is essential for establishing Best Buy as a retail media and advertising powerhouse. Financially, enhancing the ad supply enables the company to broaden its revenue streams.
Partnerships and Technical Innovations
An essential aspect of Best Buy’s CTV operations includes the utilisation of Amazon Ads’ programmatic technology starting February 2027. The longstanding partnership with Amazon has equipped the retailer with extensive reach, evident in the millions of households using Insignia TVs since 2018.
The collaboration isn’t limited to Amazon; partnerships with LG and Roku will expand CTV inventory across multiple platforms. LG’s offerings will provide first-time access to retail media network inventories, including the LG Home screen.
Expanding Influence and Shopability
On the creator front, Best Buy is innovating its program to allow advertisers to collaborate with influencers. The initiative, which began as a way for creators to recommend Best Buy products, now embraces content production for platforms like TikTok Shop and CTV. A group of Best Buy’s Blue Shirts employees will also feature in this program.
As Best Buy advances onto TikTok Shop, it will offer close to 10,000 products from brands such as Oura, Bose, Dyson, and Microsoft. This approach aims to provide a collaborative and shoppable experience for significant retail periods like back-to-school and the holidays.
Future Prospects
Best Buy’s expansion into CTV and creator-driven channels aims to enhance advertisers’ returns on invested budgets with the company. Analyst Andrew Lipsman sees Best Buy’s move as capitalising on its stature as a major electronics retailer, gaining traction with substantial media budgets from global advertisers.
While Best Buy has not disclosed the exact size of its retail media business, Valentino anticipates double-digit growth, highlighting a demand-driven future expansion.
Reporting based on coverage first published by modernretail.co.