LOS ANGELES, March 21, 2023 (GLOBE NEWSWIRE) -- Whip Media, the leading enterprise software platform and data provider to the world’s largest entertainment organizations, announced today that it has been selected by VIZIO (NYSE: VZIO) to help manage and streamline ad revenue reporting for WatchFree+, its free, ad-supported streaming service.
VIZIO, one of the largest TV brands in the U.S. with over 17 million active accounts, powers endless entertainment options for millions of households with content for every genre, including more than 260 channels and over 6,000 movies and shows, all for free on VIZIO WatchFree+.
The rapid growth of WatchFree+ required a new system to scale and efficiently handle the high volume of deals, along with calculations and payments to partners.
VIZIO will leverage Whip Media’s platform to process performance data for ads served to viewers of FAST channels and AVOD on WatchFree+ to efficiently calculate ad revenue royalties for its third-party content partners.
“We’re thrilled to partner with VIZIO, a trailblazing company that has experienced significant growth in the streaming age. Working with Whip Media, VIZIO can now automate the depth and velocity of licensing,” said Vince Muscarella, Whip Media’s vice president of sales. “Our partnership will allow VIZIO to streamline financial reporting for their growing library of AVOD and FAST programming on their Connected TV platform. With this new approach, VIZIO can focus on what it does best – deliver high-quality content to its viewers through its WatchFree+ streaming service.”
“VIZIO’s partnership with Whip Media comes at a time when the entertainment world continues its shift toward more automated account management,” said Adam Townsend, Chief Financial Officer at VIZIO. “This partnership gives us the ability to quickly scale and process ad revenue data efficiently across a growing list of thousands of titles and for hundreds of content partners.”
Whip Media currently manages performance tracking and revenue management for more than 60% of VOD and EST transactions annually for the largest film studios and distributors across 1,100+ global platforms, and a growing number of FAST/AVOD companies.
About Whip Media
Whip Media is reimagining content licensing to create a smarter, more connected entertainment ecosystem. We help leading entertainment companies succeed in today’s high-volume, high-
velocity global content environment with a market-leading cloud software platform that combines unique, actionable insights with scalable, connected workflows for licensing, content planning and financial operations. For more information, visit www.whipmedia.com.
About VIZIO
Founded and headquartered in Orange County, California, our mission at VIZIO Holding Corp. (NYSE: VZIO) is to deliver immersive entertainment and compelling lifestyle enhancements that make our products the center of the connected home. We are driving the future of televisions through our integrated platform of cutting-edge Smart TVs and powerful operating system. We also offer a portfolio of innovative sound bars that deliver consumers an elevated audio experience. Our platform gives content providers more ways to distribute their content and advertisers more tools to connect with the right audience.
For more information, visit VIZIO.com and follow VIZIO on Facebook, Twitter, and Instagram.
Cautionary Note Regarding Forward-looking Statements: Information in this press release related to VIZIO’s expectations, plans, or strategies regarding the future, including statements about the expected functionality and efficiencies of the use of Whip Media’s platform for use in VIZIO’s business are forward-looking statements that are not facts and involve a number of risks and uncertainties. Factors that could cause VIZIO’s actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include VIZIO’s ability to effectively implement Whip Media’s technology to the expected level of performance and other factors identified in the risk factors sections of VIZIO Holding Corp.’s most recently filed quarterly report on Form 10-Q. The forward-looking statements in this release are based upon information available to VIZIO as of the date of this release, and VIZIO does not assume any obligation to update any such forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Inscape or VIZIO and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.
Press Contact for Whip Media
Sean Burch
714-865-1162
Press Contact for VIZIO
Melissa Hourigan
Fabric Media
720-608-1919
Sean Burch Whip Media 714.865.1162 sburch@whipmedia.com
