Roku to continue selling at Walmart despite Vizio acquisition, CFO says
Roku will continue selling its products at Walmart stores despite the retailer’s plans to acquire Vizio, the company’s CFO said.
Vizio ($VZIO) is a consumer electronics company headquartered in Irvine, California. The company offers a low-cost line of premium television sets and sound bars. Vizio is also the developer behind Platform Plus, a smart TV operating system that includes the streaming platform SmartCast and the free, ad-supported television service WatchFree Plus.
Roku will continue selling its products at Walmart stores despite the retailer’s plans to acquire Vizio, the company’s CFO said.
Vizio has received an engineering Emmy Award for its development and deployment of its refreshed streaming television operating system.
The retailer hopes Vizio’s streaming TV platform will help it further develop a robust digital advertising business.
Walmart is discussing a possible acquisition of electronics maker Vizio as it explores new fronts in the digital advertising business, according to a report.
Philo has integrated its wallet-friendly streaming television service into Vizio’s smart TV sets.
TuneIn is rolling out an app on Vizio SmartCast TVs that serves up over 90,000 live radio stations, podcasts and audiobooks.
Vizio has agreed to pay $3 million to settle a class-action lawsuit brought by California consumers over the marketing of some TVs.
Vizio is using interactive greeting cards on the home screens of its smart TV sets to promote holiday-themed movies and TV episodes.
Viewers are having a difficult time wading through hundreds of premium and free, ad-supported streaming options, the executive said.
Vizio CFO Adam Townsend said customers who use 55-inch TVs or larger hold onto those sets longer and drive higher ARPU for the company.