American consumer electronics company Best Buy (BBY) seems to have taken its company pillar of "consumer" to the next level. The tech-retail chain has announced it will convert its deep connection with its customer base to its own in-house media ad-sales operation: Best Buy Ads. The goal is to connect brands and consumers.
Using its knowledge of its wide array of customers (they claim to conduct 2 billion customer service interactions yearly!) and its technology and electronic use, the new media network will target various potential advertisers. Beyond endemic tech firms, Best Buy is hoping to also attract potential advertisers anywhere from autos, fast-food restaurants, movies, gaming, the list is endless! The likes of Google and Criteo will run the media network. Google (GOOGL) really is everywhere!
Why it matters
Speaking of ads, if you have HBO or HBO Max, are you also tired of the ads? Seemingly not, as the network surpassed its company forecasts closing off 2021 with 73.8 million subscribers. Ads are just a slight nuisance huh? Maybe BestBuy is on to something here.