As it works to keep pace with changing shopper preferences, Walmart is advancing its streaming capacities, having launched a livestream with Dolly Parton and completing the purchase of Vizio.
As part of the virtual event, Parton featured a range of her household products with frequent reference to Walmart Live and the ability to purchase them as part of the livestream. The focus was the Parton line of party products, from glassware to servingware and even a Dolly disco ball and Party Hat Pinata.
The closing of the Vizio deal follows the expiration of a Federal waiting period, Walmart indicated. The acquisition of Vizio and its SmartCast Operating System gives Walmart the means to serve customers in new ways, Walmart stated, as well as to enhance their shopping experiences. The deal will also provide Walmart Connect media advertisers new ways to reach customers at scale and boost product discovery, Walmart maintained.
As announced on February 20, Walmart signed the deal to acquire Vizio and its SmartCast Operating System for $11.50 per share in cash, equating to a fully diluted equity value of $2.3 billion. SmartCast has amassed more than 19 million active accounts, growing approximately 400% since 2018, Walmart pointed out, while Vizio has built this customer-centric platform enabling users to stream content for free by watching ads. With that, Vizio has established a growing advertising business that helps marketers reach consumers at scale.
The proprietary Walmart Connect advertising operations grew 26% in the third quarter of this year as the company continues to evolve its approach to the consumer.
