Smart TV maker Vizio reported a fourth-quarter loss as its advertising and data businesses grew, but its device business fell.
Vizio’s net loss was 10.1 million, compared to net income of $40.8 million a year ago.
Revenue fell 14% to $628 million.
Revenue for Vizio’s data and advertising Platform Plus business rose 74 % to $195.1 million. Gross profit for Platform Plus was $67.3 million, up 39%.
Active accounts for Vizio’s SmartCast increased by 24% to 15.1 million. Hours spent with Vizio rose 20% to 7.9 billion and SmartCast hours increased 11% to 3.9 billion. The average revenue per user for Smartcast jumped to $21.68 from $12.99.
Smart TV shipment fell to 1.5 million in the quarter from 2.2 million a year ago. Device revenue fell 22% to $523.7 million and gross profit was down 14% to $9.8 million.
"2021 was a transformational year for Vizio. Since our IPO almost one year ago, we have continued to see success in the execution of our combined hardware and software strategy,” said CEO William Wang.
“Our dual revenue model has allowed us the flexibility to invest in creating an even better consumer experience with great products, while our advertising and data offerings increasingly draw partners to our streaming platform. Going forward we will continue to focus on execution on all sides of the business, and we are excited for the year ahead as we celebrate our 20th Anniversary in the TV market,” Wang said. ■
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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.