Vizio said that its upfront generated $200 million in advertising commitments for the 2022-23 television year.
The volume is double last year, when Vizio had $100 million in upfront commitments.
The smart TV makers said that its increase was driven by the industry-wide shift of viewers from traditional TV to streaming. It was also helped by additional content offerings on Vizio’s WatchFree Plus platform and demand for data-informed and targeted advertising.
“Our focus is always on how we benefit customers, starting with the millions of people that turn our TVs on every day all the way through to the advertising community in search of unique audiences and better experiences,” said Mike O’Donnell, Chief Revenue/ Strategic Growth Officer for Vizio . “The growth in our upfront commitments are a reflection of the important role connected TVs have in the home and in the marketplace at large.”
On its last earnings call, Vizio said its advertising business grew 71% in the second quarter. It also said it added 243 net new advertisers.
“Right now advertisers have a renewed focus on optimization and outcomes, and VIZIO’s integrated hardware and software model uniquely positions us to help them prove the impact of campaigns,” said Adam Bergman, Group VP of Advertising & Data Sales at Vizio . “Advertisers trust us to help them reach receptive audiences, verify that ads actually hit the screen across devices, and identify the actions viewers took from experiencing the creative.” ■
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.