Cathie Wood Calls Connected TV ‘Prime Beneficiary’ from Ad Shift

Janine Phakdeetham, Bloomberg News

Catherine Wood, chief executive officer of ARK Investment Management LLC, speaks during a session at the Web Summit in Lisbon, Portugal, on Wednesday, Nov. 2, 2022. The Web Summit runs from 1-4 November. , Bloomberg

(Bloomberg) -- Connected TV should benefit from the likely shift in advertising trends epitomized by the pact between streaming platform Roku Inc. and food delivery service DoorDash Inc., ARK Investment Management Chief Executive Officer Cathie Wood said.

The Roku-DoorDash deal will allow customers to order meals and snacks they see on television advertisements. This may be a part of the shift to digital TV from linear ads that may be worth as much as $170 billion globally, Wood tweeted.

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She was responding to a tweet from Ark employee Andrew Kim who said the Roku pact “seems like one of the most intuitive use cases for bottom-funnel CTV advertising” and was in line with the firm’s Big Ideas paper published earlier this month.

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(Corrects spelling of name in final paragraph)