Vizio Ads -- the smart TV advertising-sales platform -- says it has finished making upfront TV advertising "commitments" totaling $200 million.
This is for inventory to be placed for the TV season
starting October 1, 2022 and running through September 30, 2023.
Vizio says this represents a 100% increase from a year ago.
The company says shifting audiences and TV advertising
dollars to all things streaming has helped increase its business. Vizio also credits better targeting and measurement of direct-to-device advertising deals.
Looking at actual media schedules
that have been recently placed, Vizio advertising grew 71% in the second quarter of 2022 to $81 million. It added 243 new advertisers.
During its second-quarter earnings results, Vizio said
its overall smart TV Platform+ revenue was up 69% to $110.8 million -- a business that now has a 27% share of total company revenue.
Next quarter, it expects Platform+ revenue to be between
$120 million and $125 million dollars.
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Vizio's SmartCast active accounts grew to more than 16 million U.S. homes in the second quarter.
Other streaming and connected TV platforms have
announced the completion of their respective TV-video upfront advertising deal-making for the TV season that begins in late September and ends in August next year.
Earlier this summer, Walt
Disney said 40% of the total TV-video upfront dollars -- $3.6 billion -- went to streaming and digital platforms, including Disney+, ESPN+ and Hulu.
NBCUniversal says its Peacock streaming
platform took in $1 billion in upfront TV advertising revenue commitments.