WALMART TO ACQUIRE SMART TV MAKER VIZIO FOR $2.3 BILLION IN BID TO BOOST ITS ADVERTISING BUSINESS
Techlife News|February 24, 2024
Walmart is buying the smart TV maker Vizio for $2.3 billion as it attempts to expand its rapidly growing advertising business to compete with Amazon.
WALMART TO ACQUIRE SMART TV MAKER VIZIO FOR $2.3 BILLION IN BID TO BOOST ITS ADVERTISING BUSINESS

If completed, the deal would give Walmart access to Vizio’s SmartCast operating system, allowing the retail behemoth to offer its suppliers the ability to display ads on streaming devices.

Walmart has been ramping up its media and ad business with Walmart Connect, giving advertisers access to Walmart’s massive customer base. In its earnings release on Tuesday, Walmart said its global advertising business grew approximately 28% to $3.4 billion last year.

The moves come as Amazon announced last month it would start charging its Prime members $2.99 per month to keep their movies and TV shows ad-free, on top of the fee it charges for Prime: $14.99 per monh or $139 per year.

WHAT DOES WALMART HAVE TO GAIN FROM A TV MAKER?

Vizio’s SmartCast system has 18 million active accounts and has grown by 400% since 2018. The companies say that Vizio’s platform has more than 500 direct advertisers and that ads now account for the majority of the company’s gross profit.

Makers of streaming hardware like Roku and Vizio have increasingly shifted their focus to ad revenue in recent years. Vizio launched its Vizio Ads business unit in 2019, claiming that it was “one of the few connected TV companies with the device penetration, consumer opt-in and infrastructure to deliver meaningful scale.”

Walmart recognized the Vizio’s expanding consumer reach and jumped at the chance to supplement its Walmart Connect business.

“We believe the combination of these two businesses would be impactful as we redefine the intersection of retail and entertainment,” said Seth Dallaire, executive vice president and chief revenue officer for Walmart U.S.

WHO ELSE IS STEPPING UP SCREEN ADVERTISING?

This story is from the February 24, 2024 edition of Techlife News.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the February 24, 2024 edition of Techlife News.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM TECHLIFE NEWSView All
FACEBOOK OWNER META SEEKS TO TRAIN AI MODEL ON EUROPEAN DATA AS IT FACES PRIVACY CONCERNS
Techlife News

FACEBOOK OWNER META SEEKS TO TRAIN AI MODEL ON EUROPEAN DATA AS IT FACES PRIVACY CONCERNS

Meta wants to use data from users in privacy-conscious Europe to train its artificial intelligence models, the social media giant said this week as it faces concerns about data protection while battling to keep up with rivals like OpenAl and Google.

time-read
1 min  |
June 15, 2024
EUROPE WANTS AFFORDABLE ELECTRIC VEHICLES FROM CHINA. BUT NOT AT THE COST OF ITS OWN AUTO INDUSTRY
Techlife News

EUROPE WANTS AFFORDABLE ELECTRIC VEHICLES FROM CHINA. BUT NOT AT THE COST OF ITS OWN AUTO INDUSTRY

The European Union moved this week to hike tariffs, or import taxes, on electric vehicles made in China. EVs are the latest flash point in a broader trade dispute over Chinese government subsidies and the Asian nation's burgeoning exports of green technology to the 27-nation bloc.

time-read
5 mins  |
June 15, 2024
COMMUNITY HEALTH CENTERS' NEW CRISIS: THE NEED FOR BACKUP POWER
Techlife News

COMMUNITY HEALTH CENTERS' NEW CRISIS: THE NEED FOR BACKUP POWER

The 2017 Tubbs Fire, which killed 22 people and destroyed 5,600 buildings, was already a stressful time at Alliance Medical Center's clinic here, as workers who picked grapes in the nearby vineyards streamed into the nonprofit community health center with burns, symptoms of smoke inhalation, and other crises.

time-read
4 mins  |
June 15, 2024
DEMAND FOR FOOD DELIVERY HAS SKYROCKETED. SO HAVE COMPLAINTS ABOUT SOME DRIVERS
Techlife News

DEMAND FOR FOOD DELIVERY HAS SKYROCKETED. SO HAVE COMPLAINTS ABOUT SOME DRIVERS

A soaring demand for food delivered fast has spawned small armies of couriers - and increasing alarm - in big cities where scooters, motorcycles and mopeds zip in and out of traffic and hop onto pedestrian-filled sidewalks as their drivers race to drop off salads and sandwiches.

time-read
4 mins  |
June 15, 2024
BILL FOR 'FOREVER CHEMICALS' MANUFACTURERS TO PAY NORTH CAROLINA WATER SYSTEMS ADVANCES
Techlife News

BILL FOR 'FOREVER CHEMICALS' MANUFACTURERS TO PAY NORTH CAROLINA WATER SYSTEMS ADVANCES

North Carolina's top environmental regulator could order manufacturers of \"forever chemicals\" to help pay for water system cleanup upgrades whenever they are found responsible for discharges that contaminate drinking water beyond acceptable levels, under legislation advanced by a state House committee this week.

time-read
3 mins  |
June 15, 2024
NETFLIX'S RECIPE FOR SUCCESS INCLUDES 'SECRET SAUCE' SPICED WITH SILICON VALLEY SAVVY
Techlife News

NETFLIX'S RECIPE FOR SUCCESS INCLUDES 'SECRET SAUCE' SPICED WITH SILICON VALLEY SAVVY

Although its video streaming service sparkles with a Hollywood sheen, Netflix still taps its roots in Silicon Valley to stay a step ahead of traditional TV and movie studios.

time-read
4 mins  |
June 15, 2024
'THE BOYS,' AMAZON'S HIT SUPERHERO SATIRE SHOW, WILL END WITH SEASON 5
Techlife News

'THE BOYS,' AMAZON'S HIT SUPERHERO SATIRE SHOW, WILL END WITH SEASON 5

\"The Boys,\" Amazon Prime Video's epic superhero satire series, will end with its fifth season.

time-read
2 mins  |
June 15, 2024
BEST HYBRID SEDANS FOR UNDER $35,000
Techlife News

BEST HYBRID SEDANS FOR UNDER $35,000

More than ever, buying a hybrid vehicle makes a lot of sense. The latest models are just as powerful ― in some cases, more powerful ― as related gas-only models and have such small price premiums that it's easy to start saving money while reducing your vehicle-based carbon emissions. But what to choose, especially when you're on a tight budget? Consider a hybrid sedan. Compared to an SUV, they typically get better mileage and have a lower starting price. Experts highlight six of the top new hybrid sedans on sale today for under $35,000. They are ordered below by price including the destination charge.

time-read
2 mins  |
June 15, 2024
IN WYOMING, BILL GATES MOVES AHEAD WITH NUCLEAR PROJECT AIMED AT REVOLUTIONIZING POWER GENERATION
Techlife News

IN WYOMING, BILL GATES MOVES AHEAD WITH NUCLEAR PROJECT AIMED AT REVOLUTIONIZING POWER GENERATION

Bill Gates and his energy company are starting construction at their Wyoming site for a next-generation nuclear power plant he believes will \"revolutionize\" how power is generated.

time-read
3 mins  |
June 15, 2024
WWDC: APPLE PAY WILL HAVE MORE PAYMENT OPTIONS THIS FALL AND WILL ALSO WELCOME WINDOWS, CHROME USERS
Techlife News

WWDC: APPLE PAY WILL HAVE MORE PAYMENT OPTIONS THIS FALL AND WILL ALSO WELCOME WINDOWS, CHROME USERS

Apple Inc. plans to add several new features to Apple Pay and Apple Wallet later this year that will more deeply integrate financing, rewards, and buy now, pay later options into the iPhone.

time-read
1 min  |
June 15, 2024