Walmart buys Vizio for $2.3B as retail media race turns to streaming

By: Trademagazin editor Date: 2024. 02. 29. 09:48

🎧 Hallgasd a cikket: Nyelv: Sebesség: 1.05×

Retail media networks are shifting focus to areas like connected TV and streaming to increase their ability to reach consumers.

Walmart has agreed to acquire TV maker Vizio for $2.3 billion in cash to accelerate growth for Walmart Connect, its U.S. advertising arm, according to a press release. The news was announced around Walmart’s fourth-quarter earnings Tuesday.

The deal provides the big-box store with another channel to reach consumers at home as connected TV (CTV) and streaming viewership surge. Vizio also has an advertising arm with its own technology solutions and over 500 direct brand relationships, contributing to Connect’s scale.

The acquisition helps Walmart catch up with Amazon, which dominates the retail media category and owns the Fire TV line of smart TV hardware. Walmart’s sales derived from advertising are substantially smaller than its competitor’s but growing quickly, with Connect revenue up 30% in fiscal 2024, per the earnings statement.

Grocery Dive