CE Pro October 2021 - 11

Emerald Allies with
AV-iQ Database
Best Buy Revenues Surge
EMERALD HOLDING, INC.,
publishers of CE Pro, announced
an alliance with
AV-iQ, the leading product
database and integrator service
provider in the Commercial
AV Space. For more than 20 years, AV-iQ has provided a
central database to serve the commercial AV community with
a platform for integrators and end users to research, plan and
connect with AV brands and their channel partners.
This alliance further expands Emerald's commitment to
the AV market, adding a new resource to the portfolio that
includes Commercial Integrator, TechDecisions, CE Pro,
Designwell, CEDIA Expo and Total Tech Summit. As part of
this alliance, a residentially focused version of AV-iQ will be
launched in January 2022.
" This was a perfect match. Mark [Loftus] and his team have
a premier platform that brings high level product data that will
complement the content and events we deliver. I am especially
excited to launch the residential version in January, " says
Ray Lyons, vice president and publisher of Emerald's Connected
Brands Group
From a single portal, www.av-iq.com, users can find everything
from detailed product information to news, videos, case
studies and now webinars and training content. Registered
users of AV-iQ enjoy a common format that allows for detailed
product comparison and project list creation to inform their
decisions. From this central database, AV-iQ has been able to
create custom catalogs and provide data feeds to integrators
across the industry, so their customers and teams have access
to preferred brands directly on the integrator's own website.
20% Higher
BEST BUY ANNOUNCED record sales of $11.8 billion and
income for Fiscal Year Q2 ending July 31. The amazing 20%
growth in sales and 40% growth in income not only blows
away last year's results, which were subdued due to the
pandemic, but still represent 24% growth in sales over the
same timeframe in 2019 before COVID-19.
Among the key contributors to Best Buy's revenue
growth are home theater and services, says the company.
The company specifically cited home theater, appliances,
computing, mobile phones and services, which would include
custom installation, as the largest contributors to growth.
Best Buy has changed its revenue outlook for the year
from $51 billion up to $52 billion, representing an increase
in sales of between 9% and 11% compared to its previous
prediction of just 3% to 6% growth. For Q3 this year, the
company is anticipating revenues between $11.4 billion and
$11.6 billion, which is a sales decline of -1% to -3%.
In a clear sign that consumers are returning to in-person
shopping, Best Buy's online revenues declined 28.1% for the
quarter to $3.49 billion. Online revenues represented 31.7%
of total sales in the U.S.
CEDIA Alters Bylaws for Board, CEO
THE CEDIA BOARD of directors
has voted to extend
the term length for its board
positions from the current
two years to three years.
Board members will still only
be allowed to serve a maximum
of six years. The association
also voted to remove
the CEO position as a voting
member of the board.
The move was made given
the need to have continuity
in the leadership during
this challenging time as the
association and the industry
deal with the coronavirus
pandemic. Moreover, the
continuity will help during
the continued search for a
permanent CEO.
The change was outlined
in a letter to members from
board chairperson Rob
cepro.com
Sutherland.
" This update preserves
leadership continuity across
the organization as we continue
a period of transition.
It will also give future new
board members the appropriate
amount of time to get
onboarded and subsequently
focus on strategic objectives, "
wrote Sutherland.
He noted the bylaws
change to remove the CEO
as a voting member of the
board is in-line with association
best practices and
allows the board to remain
objective, focused on strategic
direction, and removed
from operations. As
a result, the CEDIA Board
will now operate with a
minimum of 9 and maximum
of 12 directors.
October 2021 CE Pro | 11
http://www.av-iq.com http://www.cepro.com
CE Pro October 2021

Table of Contents for the Digital Edition of CE Pro October 2021
