The connected TV (CTV) market has rapidly grown in recent years, and more and more consumers are using these devices as their primary source of entertainment. According to analysis, market growth is set to continue. The global CTV market is forecast to grow from $12.6 billion in 2022 to $16.2 billion in 2032, a CAGR of 13.7%. Of the OEMs operating in the US market, Comscore reported last year that VIZIO had the second largest market share. Additionally, analysis of VIZIO’s performance indicates that between Q2 2021 and Q2 2022, its active accounts increased by 15%, from 14 million to 16.1 million. During the same period, user engagement time with VIZIO SmartCast increased by 5% to 177 minutes per day per active user. VIZIO is clearly a popular OEM, but how do you know if it is right for your growth strategy?
This is the third post in our series looking at different OEMs so that you can better evaluate their potential as an expansion tool for your service. In the previous blog posts, we looked at Roku and the Comcast X1 platform, and now, we will turn our attention to VIZIO SmartCast.
SmartCast is a unique operating system for VIZIO’s smart TVs. It is a built-in-house solution that utilizes Chromecast and Apple AirPlay and houses all of the video content that consumers want. In addition to being able to access the most popular streaming services, SmartCast is attractive to consumers because it allows them to connect their VIZIO TV with Apple HomeKit, Google Assistant, and Alexa-enabled devices. This enhanced connected capability provides the user with an interactive, innovative and seamless living room experience.
VIZIO also offers simple account subscription for its users. In August 2022, the company announced its payment and subscription management solution, VIZIO Account, for its SmartCast TVs. With a one-time log-in, users can easily consolidate subscriptions and subscribe to new services and special offers, allowing greater control over their entertainment spending.
VIZIO SmartCast is not only attractive to consumers, it has a lot to offer to video providers too. Consolidating services as described above provides VIZIO partners and advertisers with a dynamic marketplace to advertise their special offers. It can provide powerful promotion prospects in the form of sponsorship opportunities and branded impressions displayed via Hero & Discover units (front and center). This allows brands to integrate themselves directly into the programming that their target audience is watching.
Additionally, brands that sponsor Features programming will have their content appear in the hero banner, curated carousels, channel guides, and other components of the home screen. This not only gives the advertiser the opportunity to showcase content, ads and products to gain viewers, but also allows them to live on the home screen in a powerful and meaningful way. This can really help to achieve incredible brand awareness in the market. By implementing a proper deep-linking mechanism, applications developed will always be ready for home screen promotion.
Accedo, as a global video solutions provider, is a preferred development partner for Vizio. Over the course of many successful deployments to the VIZIO platform, and through our various pre-built framework solutions and proven products, Accedo has developed an industry leading approach to launching premium VIZIO experiences for all tiers of the media market. We have developed and deployed engaging video solutions for many well-known media companies.
If you are considering expanding the reach of your service in the CTV market through VIZIO SmartCast, and would like to find out more about what is involved, get in touch.