IRVINE, Calif.—In a sign of a strong connected TV ad market, Vizio has announced that it concluded its upfront season with more than $200 million in direct advertising commitments from agency holding companies, brands and studios.
The figure marks a 100% year-over-year increase, Vizio said and comes on the heels of a 71% year over year increase in ad revenue in Q2, 2022.
Vizio attributed the steady growth in advertising revenue for Vizio Ads to a variety of factors that included the migration of audiences from linear TV to streaming along as well as better targeting and measurement.
Other contributing factors include the expanded library of programming on Vizio’s free ad-supported streaming service, WatchFree+, as well as buyer demand for data-informed advertising and home screen engagement offerings that deliver unique audiences and experiences, Vizio said.
“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.”
Vizio reported that its advertising business grew 71% in Q2 2022, compared to the same period last year, during which time it added 243 net new advertisers as the company deepened relationships across the agency landscape.
“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 vice president 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.”
