Vizio Holding Corp. (NYSE: VZIO) built a business on smart TVs; now, it’s making the business of advertising smarter.
The Irvine media company and flat-screen TV and sound bar maker continues to see its Platform+ advertising division revenue spike, with the third quarter representing the fifth straight period of over 100% growth.
Platform+ revenue surged 134% to $85.9 million in the quarter, with advertising leading the increase via a 271% jump to $66 million. Advertising accounts for the largest share of the Platform+ division’s overall revenue at 77%. The business also generates revenue through fees from data licensing and content distribution.
In all, the direction of the business is “paving the way for our continued evolution as a streaming-first, data-driven media company,” CEO and founder William Wang told analysts this month.
Platform+ is now expected to generate revenue in the range of $100 million to $110 million in the current quarter.
“This accelerating advertiser demand continues to be in line with broader market shifts,” Wang said. n