Vizio ($VZIO) is expanding into streaming as the company celebrates its public debut on the New York Stock Exchange.
Founded in 2002, the company has become one of the country's leading television makers, and, according to CFO Adam Townsend, its SmartCast expansion will help drive new advertising and content revenue opportunities.
"We're now moving more into a dual revenue structure where not only do we make money when someone buys the TV but we're making revenue when they use the TV," Townsend told Cheddar.
He said Vizio's "integrated experience" separates the company from others in the industry, particularly because all of its expanded features are in one central hub.
For consumers, the SmartCast streaming platform offers simplicity. According to the CFO, the new model TVs make cord-cutting a breeze and come loaded with several streaming options and free channels.
The company will be able to track engagement through embedded software that can both curate more personalized content for the viewer as it learns what the person likes to watch as well as produce data for advertisers to narrow promotions for their target audiences.
"Addressable advertising, targeted advertising is really the future of where this is going," Townsend noted. "It's really transformative not only for us but the ecosystem at large."
Though the tech industry has been bogged down by the global chip shortage, Townsend said his company's close ties with manufacturers have kept the supply chain up and running.
Vizio closed its first day of trading at $19.10, down 9 percent from its $21 pricing.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
