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.
Cheddar News checks in on what to look out for on The Day Ahead as earnings season continues with TJX Cos., Target and Take Two Interactive among those reporting on Wednesday. April housing starts data is also set to be released while Netflix will hold its upfront presentation virtually amid a continued writers' strike.
Billy McFarland, who served four years in prison for the failed Fyre Festival in the Bahamas that saw investors lose millions, is back. McFarland joined Cheddar News to explain a new Fyre Festival he is planning along with a Broadway musical, both in the works.
Retail sales saw a modest uptick in April as inflation eased somewhat as consumers look toward the summer season to spend some more. Mario Payne, financial planner for Toams Financial, joined Cheddar News to provide some guidance on how to work up a responsible summer budget plan.
Dryden Pence, chief investment officer with Pence Capital, joined Cheddar News to discuss Tuesday's market session and touched on what the Federal Reserve may decide on at its next meeting as inflation continues to play a role and consumer spending remains firm.
Stellantis is telling owners of nearly 220,000 Jeep Cherokee SUVs worldwide to park them outdoors and away from other vehicles because the power liftgates can catch fire even when the engines are off.
After years of explosive growth during the pandemic, Home Depot’s revenue during the first quarter fell short of expectations and the company cut its profit and sales outlook for the year
