Video commerce technology company TheTake said it signed a deal to enable home shopping via LG Electronics smart TV sets.
Among the first programmers to sell items via LG and TheTake are NBCUniversal, WarnerMedia, Crown Media Family Networks and A+E Networks.
TheTake said it has also negotiated an agreement with a large U.S. MVPD to roll out the technology across millions of set-top boxes later in 2020.
Starting in the Spring, users of new LGs sets will be able to purchase fashions, accessories, household items, tech devices and recipe items.
TheTake’s technology can tag hundreds of products per TV episode and thousands per movie. Working with TheTake is relatively easy for networks, the company. All TheTake needs is to tap into network’s content management system or get access to a network feed a few seconds ahead of the actual broadcast.
“Shoppable video has been talked about since the days of Rachel’s sweater on Friends,” Tyler Cooper, co-founder and CEO of TheTake, said at CES 2020. “Previous solutions haven’t addressed the long tail opportunity where each individual viewer wants to shop for something different. Shoppable video isn’t just about Rachel’s sweater, but also Chandler’s jacket, Joey’s sunglasses, Monica’s couch and so on. To address the full breadth of consumer interest, we leverage machine learning to make more than 500 products shoppable in a given episode of television. We’re excited to bring our AI-powered solution to viewers with LG and our various content partners.”
LG and TheTake said they have a common focus on leveraging the power of artificial intelligence to transform the television viewing experience.
Additionally, TheTake has negotiated an agreement with a large U.S. MVPD to roll out the technology across millions of set-top boxes later in 2020.
This is TheTakes first deal with a smart-TV maker.
TheTake has previously integrated across numerous TV network digital properties including Bravo, Hallmark Channel and the Golf Channel.. In early integrations, TheTake’s technology has shown high engagement with viewers and click-through rates on products high above industry standards.
Other companies are interested in home shopping. NBCUniversal last year introduced ShoppableTV and Univision, working with e-commerce company Knocking, added an online marketplace called Gangas & Deals to segments on its morning show Despierta America.
“While the concept of shoppable television isn’t new, being able to deliver that experience to our fans in a simple, seamless way, in partnership with LG and TheTake, is an exciting development,” said Larry Allen, VP of ad product strategy, WarnerMedia. “With this integration, we can now provide a range of options to find the latest fashion statements from our incredible talent. We look forward to rolling out the feature this year.”
