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Home News Vizio files to go public, has sold over 80 million TVs

Vizio files to go public, has sold over 80 million TVs

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Summary (IA Generated)

Vizio today filed its S-1 with the US Securities and Exchange Commission as the TV and soundbar maker heads toward an initial public offering.

“We envision the Vizio smart TV as the center of the connected home — where families play games together, where friends watch movies together, where work and learning happen, and where all things in between take place,” Vizio founder, chairman, and CEO William Wang wrote in a letter that opens the S-1.

”.

The filing reveals that Vizio has sold over 80 million TVs and 11 million soundbars since the company’s founding.

1 million TVs in 2020.

Vizio’s TVs have long delivered performance and picture quality far above their price, though in recent years competitors like TCL have tried to outdo the company in this regard.

“We will continue our successful hardware business, iterating on models as we’ve done before, and at the same time build our name in smart TV software,” Wang said.

But the future is more so about software and platforms than it is about selling TVs, where the profit margins are often scant.

“Platform+” refers to a combination of SmartCast (the software that runs on Vizio’s TVs) and Inscape, which is Vizio’s data, analytics, and content recognition subsidiary.

The S-1 points out that the company continues to see huge advertising potential from its ad-supported video on demand (AVOD) services like WatchFree and Vizio Free Channel.

It also sells ad space on the SmartCast home screen and gets a percentage of subscriptions and purchases made in third-party apps on its platform.

The company says there are currently over 12 million active SmartCast accounts.

3 million internet-connected TVs still running its legacy software.

Photo by Chris Welch / The Verge Vizio tried to completely reinvent the TV experience in 2016 by removing all built-in apps from its first SmartCast TVs.

The company also briefly ditched the traditional TV remote control and packaged an Android tablet with those TVs.

Both of these grand experiments were reined in a few years later, with Vizio again bundling popular apps on its TV platform (while retaining the same casting features as before) and switching back to a normal remote.

Risk factors in the S-1 are all pretty standard, though Vizio does acknowledge the sometimes fractious relationship between streaming app companies and platforms.

Vizio says it envisions the future of SmartCast expanding beyond pure entertainment to include the following:.


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