Premier Retail Networks, Inc. (PRN) and Costco Wholesale Corporation (“Costco”) (NASDAQ: COST), the third largest retailer in the U.S., this week announced a multi-year agreement to extend their longstanding relationship on Costco’s in-store media network and content strategy. PRN and Costco have collaborated on the network since its inception in 2004.
Under this new agreement, PRN will provide Costco with an end-to-end retail media solution that includes custom HDTV programming, advertising sales, network operations, media management and scheduling.
In addition, PRN’s programming team will produce custom programming highlighting Costco’s unique services and department offerings, network branding, consumer electronics education, plus custom HD entertainment and sports programming drawn from PRN’s growing alliances with over 150 premier content providers.
The Costco network operates in more than 400 warehouses in the U.S., and reaches more than 41 million members every four weeks (Costco HDTV Viewership Study, The Nielsen Company, 2008).
Costco currently operates 566 warehouses, including 413 in the United States and Puerto Rico, 77 in Canada, 21 in the United Kingdom, seven in Korea, six in Taiwan, nine in Japan, 32 in Mexico and one in Australia.