Roku (NASDAQ:ROKU) gained on the announcement it’s teaming up with Shopify (NYSE:SHOP) to allow viewers to purchase straight from Roku TV. Viewers will be able to simply press a button on their Roku remote to place an order upon seeing an ad for a Shopify merchant.
Experts have said 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
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. Consensus is for it to lose $1.21 per share this quarter versus 82 cents per share a year ago.
ROKU shares were up 71 cents to $76.14, while those for SHOP galloped $2.17, or 3.4%, to $65.32.