Vizio Makes Nearly As Much Money From Ads and Data As It Does From TVs

In Vizio's first public earnings report today, the company revealed that in the first three months of 2021, profits from its Platform+ business -- the part that sells viewer data and advertising space via the SmartCast platform -- were $38.4 million. Engadget reports: As execs said on the call, the company continues to court relationships with brands and agencies, following the same plan laid out six years ago with a business built on its Inscape Automated Content Recognition tech. Its device business (the part that sells TVs, sound bars and the like) had a gross profit of $48.2 million in the same period, up from $32.5 million last year. While the hardware business has significantly more revenue, profits from data and advertising spiked 152 percent from last year, and are quickly catching up. Vizio did say that hardware profits were affected by products getting stuck at ports due to a shipping glut that has impacted many companies over the last year, buts forecast is that Platform+ revenue and profit will continue to grow in Q2, as device profit margins "trend toward the single digits." Vizio said it now has 13.4 million active SmartCast accounts, with viewers spending 52 percent of their viewing time on SmartCast inputs (the built-in apps, or casting from another device). 34 percent of viewing time went to linear TV, with 7 percent for game consoles or over the top devices. If you have a Vizio TV, you can opt out of anonymized tracking by following these steps.Read more of this story at Slashdot.
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