Smart TVs are undergoing their third evolutionary wave.
The first came when the regular TV set “evolved” in the late 2000s to be capable of running downloaded apps for streaming services. The second hit in 2014, when Roku became the first streaming media device manufacturer to license its operating system to power smart TVs.
This third evolution sees not just widespread household penetration of smart TVs but increasing functionality. Smart TVs can now synchronize with smart speakers and smart home appliances and are increasingly preferred by consumers for streaming content into their living rooms.
Variety Intelligence Platform’s “The State of Smart TV” special report, presented by Vizio Ads, takes a deep look at the current smart TV market, what’s driving its growth and what the future holds.
The disruption streaming has brought to traditional media has meant that smart TV manufacturers are now uniquely positioned to take advantage of the shifts in consumption. This means numerous new revenue streams — commonly referred to as “platform revenue” in SEC filings — for the TV OEMs (original equipment manufacturers), where previous OEMs had only one source at the point of sale.
Smart TVs are increasingly the gatekeepers of entertainment. With modern sets integrating apps from the vast majority of major streaming services, there’s little reason for consumers to add a separate connected device. And now the smart TV has become the streaming hub for viewers, which essentially means it is the viewing hub for younger consumers.
It’s important to note that some existing smart TVs are earlier models, which aren’t so smart by today’s standards. The rising interest in new features like the 4K picture will help to switch out these models, further widening the active base for OEMs to monetize.
Smart TVs are poised to be the viewing conduit for the household of the future. VIP+ and Vizio’s report will enable the reader to understand why and come away with a comprehensive understanding of the state of smart TV.
Read on to learn about:
The U.S. smart TV market’s predicted growth rate
Revenue opportunities for smart TV makers
What the smart TV sets of the future will bring to the table