VIZIO Holding Corp. - VZIO STOCK NEWS

VIZIO (NYSE: VZIO) has been named a CES® 2022 Innovation Awards Honoree for its SmartCast™ operating system, enhancing user experience with built-in voice capabilities, a redesigned program guide, and new streaming options. SmartCast supports major apps like Netflix and Apple TV, as well as hundreds of free channels through WatchFree+. The system ensures seamless updates for all devices, enhancing Smart TVs' functionality without additional purchases. This recognition ahead of CES 2022 underscores VIZIO's commitment to innovation in the television industry.

VIZIO reported a 1% increase in total net revenue to $588.3 million for Q3 2021, with Platform+ net revenue surging 134% year-over-year to $85.9 million. However, gross profit dropped 7% to $82.9 million, and operating expenses rose significantly by 125% to $97.5 million.

Despite these challenges, the company recorded a 35% increase in SmartCast Active accounts, totaling 14.4 million, and ARPU increased 91% to $19.89. The outlook for Q4 2021 suggests further growth with projected Platform+ net revenue between $100 and $110 million.

VIZIO Holding Corp. (NYSE: VZIO) has announced the appointment of Vicky L. Free to its Board of Directors, effective November 4, 2021, succeeding SC Huang, who is retiring. Free brings over twenty years of marketing experience, currently serving as Senior Vice President at adidas. Her expertise in brand strategy and consumer insights is expected to benefit VIZIO's growth in the Smart TV industry. The announcement includes gratitude for Huang's long-term service and leadership during VIZIO's transformation.

VIZIO Holding Corp. (NYSE: VZIO) will announce its third-quarter financial results post-market on November 9, 2021, covering the period ending September 30, 2021. Following the results, a conference call and live audio webcast will take place at 4:30 p.m. Eastern Time. Interested investors can access the webcast on the Company’s Investor Relations website. A replay and additional materials will also be available online.

VIZIO (NYSE: VZIO) has introduced new custom channels to its WatchFree+ streaming service, enhancing its VIZIO Features offering. Leveraging first-party viewership data, these channels include Fork & Flight, Gamernation, and Investigation, catering to diverse interests from food to crime. Fork & Flight leads in viewership with five times that of competitors. The initiative aims to optimize viewer engagement, providing advertisers with unique opportunities. VIZIO's approach not only enhances the consumer experience but is also expected to generate additional revenue streams for content creators.

VIZIO (NYSE: VZIO) and VideoAmp announce a renewed partnership, extending their agreement to use VIZIO's Inscape Automatic Content Recognition (ACR) data until the end of 2025. This collaboration allows VideoAmp to access data from over 18 million VIZIO Smart TVs for planning and measurement purposes. The partnership enhances VideoAmp's capabilities in cross-screen measurement and supports its currency pilots with major ad holding companies. VIZIO's Inscape remains a leading source of privacy-safe, scalable viewing data, crucial for optimizing media investments.

VIZIO (NYSE: VZIO) announced that fuboTV (NYSE: FUBO) is now available on VIZIO SmartCast. This partnership enhances the viewing experience for users by providing access to over 100 live sports, news, and entertainment channels. With fuboTV, subscribers can enjoy an immersive home theater experience complemented by VIZIO's high-quality soundbars. The app includes features like user profiles, customizable guides, series recording, and easy binge-watching options, catering specifically to sports fans and enhancing content accessibility.

VIZIO (NYSE: VZIO) announced that the HBO Max app is now available on its SmartCast platform, providing U.S. users access to over 13,000 hours of premium content. The integration allows subscribers to enjoy a diverse range of award-winning programming from HBO and WarnerMedia, including iconic titles from brands like DC and Cartoon Network. VIZIO will also feature a carousel on its SmartCast home screen, offering limited free access to select HBO Max Originals. This collaboration enhances VIZIO's entertainment offerings and aims to deepen its relationship with WarnerMedia.

VIZIO (NYSE: VZIO) has completed its 2022 upfront negotiations, securing over $100 million in advertising commitments, a fourfold increase from 2021. This includes major investments from top advertising agencies targeting sectors like automotive and retail. VIZIO's direct advertising efforts have doubled brand participation and tripled average revenue per advertiser. The growth is fueled by shifts towards streaming, enhanced by innovative ad offerings and ACR data, allowing precise audience targeting.