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Roku Stock Surges 11% Following Shopify Integration Announcement
Roku has announced a partnership that will allow users to buy products from Shopify merchants using their TV. According to the Tuesday announcement, Roku has integrated its Action Ad service with Shopify to enable users to interact with ads from Shopify merchants using their TV remote.
Roku Action Ads usually send a text, a prompt to scan a QR code, or make an onscreen purchase. When viewers see an ad for a Shopify merchant, they can simply press OK to learn more about the product. Users will be able to pay for products using Roku’s payments platform Roku Pay. Once the transaction has been completed and processed, the viewer will receive an email confirmation from the merchant.
The partnership is lauded as the “first commerce integration for independent Shopify merchants on TV streaming”. So far, brands such as men’s clothing brand True Classic, wellness brand Olly and the game-based connected rower Ergatta have signed on as partners.
“Bringing a Shopify purchase experience to television for merchants is an industry first, and innovation opportunities like these are precisely the reason I came to Roku,” said Peter Hamilton, Senior Director of Ad Innovation at Roku. “Roku democratizes access to TV advertising, and now, we’re collapsing the funnel for Shopify’s merchants. 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.”
The integration comes two months after Roku revealed its new ad products, including AI capabilities that match ad campaigns to specific TV moments.
“Shopify is on a mission to make commerce better for everyone, and by partnering with Roku to make Shopify Checkout available through new channels, we are making it easier for more brands to drive deeper engagement with shoppers and reach new audiences,” said Mani Fazeli, Director of Product, Checkout at Shopify.
Following the announcement on Tuesday, Roku (ROKU) stock has surged by 11% while Shopify (SHOP) stock is up about 2%.
Roku Stock Surges 11% Following Shopify Integration Announcement
