November 9, 2021
Consumer electronics manufacturer Vizo Nov. 9 announced it saw a 16% in AVOD consumption in the third quarter (ended Sept. 30). Total SmartCast viewing hours in the quarter topped 3.6 billion, compared with 3.1 billion hours in the previous-year period.
Vizio, along with Samsung, is aggressively pursuing the ad-supported VOD and free ad-supported streaming television market with proprietary platforms targeting their install base.
In the quarter, Irvine, Calif.-based Vizio expanded its app partnerships to include HBO Max, FuboTV, BET+, PBS and Funimation. The company also launched WatchFree+, an updated free, ad-supported streaming service with greater ad inventory control.
“Our dual revenue model is a competitive advantage, and it allows us to leverage our device business to drive growing high-margin revenue within our platform business,” CEO William Wang said in a statement.
Vizio, which claims to be the No. 2 selling TV brand, and No. 1 selling soundbar brand in the U.S., said it ended the quarter with 14.4 million active SmartCast accounts, which was up 35% from 10.7 million accounts last year.
“We are here to define the future of the Smart TV business,” Wang said.