Turkish appliances maker and electronics major Vestel is partnering with Vidaa, recently inking a goodwill deal to acquire 4.64% of the stake of the world’s second-largest smart TV platform.
Under the deal, Vestel will be entitled to ad revenues generated on the U.S.-based platform, Vestel said in a recent statement.
Vidaa’s global TV ad revenues reached $31.5 billion last year, and the figure is expected to hit up to $49 billion next year, according to research firm Omdia.
Vidaa makes innovative operating systems for smart TVs, enabling Vestel to create new product ranges for the global television market and boost sales.
Vestel will also enter new collaborations with retailers using the Vidaa operating system worldwide, offering a wide range of business opportunities for the Turkish firm, especially in the European market.
Additionally, Vestel’s portfolio of collaborating platforms includes Powered by TiVo, Fire TV, Android TV and Google TV, which appeal to different sectors and users.
Vestel also boasts agreements with global video-on-demand providers, such as Netflix, Amazon Prime Video, YouTube, Disney and TikTok, as well as Turkish ones like Tabi, blutv and Exxen embedded in its smart TVs.
