Walmart brings Vizio CTV inventory to advertisers in retail media push

The news: Walmart Connect is rolling out a beta test to offer advertisers direct access to Vizio’s connected TV (CTV) inventory, marking the first major step in aligning Walmart’s retail media ambitions with its acquisition of the TV maker.

Unveiled during Walmart’s April 9 investor presentation, chief growth officer Seth Dallaire said the new program will debut “in the next couple of months” and enable select advertisers to plug directly into Walmart-owned CTV supply.

Walmart, already the top seller of Vizio TVs, now owns not only the hardware but also the operating system and media surfaces. This allows it to pair SmartCast viewing behavior with Walmart’s first-party shopping data. Dallaire added that Walmart is pushing the Vizio team to expand the SmartCast OS to more TV brands beyond Vizio, further extending its presence in American households.

Why it matters:

• It creates an end-to-end closed loop. Walmart now controls the screen (Vizio TVs), the interface (SmartCast), and the data used for targeting and measuring outcomes. Few competitors can match this level of vertical integration.
• CTV is Walmart Connect’s fastest-growing ad channel. Dallaire called CTV the most dynamic part of Walmart’s off-site media business, with Vizio inventory now giving it exclusive placements that are in high demand.
• Tens of millions of SmartCast-enabled TVs are already in homes—most sold through Walmart. Expanding the OS beyond Vizio could significantly grow Walmart’s reach without additional hardware investment.
• It deepens Walmart’s independence from third-party ad tech. Walmart had previously relied on The Trade Desk to access CTV inventory. Now, with Vizio, it owns the supply directly, reducing dependence on external platforms.

Our take: Walmart’s Vizio move isn’t just about monetization—it’s about control.

• By owning both the experience and the ad space, Walmart can shape the CTV environment from the moment viewers turn on the TV to the moment they make a purchase. That level of integration is rare, and it changes the rules for retail media.
• The timing couldn’t be better. According to our forecast, retail media CTV ad spending will grow 45.1% in 2025, tripling the growth rate of retail search, which is expected to rise just 15.5%. CTV’s share of retail display ad spending is projected to nearly double, jumping from 11.9% in 2024 to 21.9% by 2028.
• By 2027, the format will make up 19.6% of all CTV ad spending, up from 14.5% in 2025—highlighting its growing importance in the broader video ad ecosystem.
• While growth will taper, CTV ad spend will still rise 13.5% by 2029, signaling a sustainable expansion rather than a short-lived spike.

Walmart is effectively building a closed-loop media system that rivals Amazon’s—and it's doing so with a screen-first, video-forward model. Other retailers will likely need to follow suit or risk being outpaced in a fast-changing commerce media environment.