VIZIO closed Q3 with some promising numbers on both its SmartCast platform and in TV sales. SmartCast net revenue up 134% to $85.9 million compared to this time last year, and the company also boasts its active SmartCast accounts have reached 14.4 million, up 35% from last year.
In addition, viewers are spending more time watching the platform, with hours spent up 16% to 3.6 billion. The Average Revenue Per User increased 91% year-over-year to $19.89.
“I’m proud of the strength of our Third Quarter results, as the investments we’ve made in our Platform+ business continue to bear fruit,” said William Wang, CEO of VIZIO. “Our dual revenue model is a competitive advantage, and it allows us to leverage our Device business to drive rapidly growing, high-margin revenue within our Platform+ business. Because VIZIO delivers the entire entertainment experience — from the hardware and software, to the content and ads — we are able to deliver an attractive value proposition to consumers, advertisers, and content partners alike. We are here to define the future of the Smart TV business.”
During 2021, VIZIO also expanded its app partnerships to include HBO Max, fuboTV, BET+, PBS, and Funimation. The company also launched WatchFree+, its updated free, ad-supported streaming service with greater ad inventory control.
As for merchandise, VIZIO is the #2 bestselling TV brand in the US, and the #1 bestselling sound bar brand in the US.