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.
Demand for mortgage loan applications fell 5.7 percent in the last week of February, according to a survey from the Mortgage Bankers Association (MBA).
A large cross-section of Americans is at risk of falling below the poverty line as the program that provided more than 32 million people with extra SNAP benefits during the pandemic is set to end. Families received at least $95 extra per month to spend on food.
The Black Innovation Alliance is working to empower Black entrepreneurs and recently received a $3 million commitment from UBS to help with resources. Ifeoma Ike, director of policy and movement strategy with the Black Innovation Alliance, joined Cheddar News to explain further the organization's mission.
Shana Sissel, president & CEO of Banrion Capital Management, joined Cheddar News to discuss another down day on the last session of the month in trading as inflation, a restricted monetary policy, and layoffs continue to affect markets.
Americans who get paid bi-weekly, which means twice a month, will see a third check in March. Shon Anderson, chief wealth strategist of Anderson Financial Strategies, joined Cheddar News to provide tips on how to improve your financial position with that extra pay.
Tesla shareholders filed a lawsuit against the company and Elon Musk, accusing the billionaire of overstating the capabilities of the electric vehicle's self-driving software.
