WiSA Exceeds 1 Million Consumer Target as Founding Company Reports Nearly 198% Growth Year-Over-Year for Q3 2021

Photo: Tony Ostrom, President of WiSA Association

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Consumer electronics consortium WiSA® LLC — Wireless Speaker and Audio Association — says it has witnessed strong showings and growth in its consumer base and financials.

Based on the association’s report released on October 11, the results reflect year-over-year Q3 2021 performance — exceptional website traffic growth and wireless home cinema category exposure driven by the WiSA Wave Marketing Program.

The consortium’s Wave Marketing Program, which has been in motion since September 2020, provides association members and retail partners access to WiSA’s analytics and growing consumer database.

It also gives members the ability to create customized campaigns to deliver the latest product news and opportunities to a large and growing number of educated and in-market audio enthusiasts.

Founded by Summit Wireless Technologies Inc. WISA, WiSA creates an interoperability standard used by leading brands and manufacturers to deliver immersive sound via intelligent devices.

More than 40 leading retailers, including Amazon.com Inc. AMZN, Best Buy Co Inc. BBY, B&H Photo-Video, Beach Camera, BrandsMart, Crutchfield, Electronic Express, Focus Camera, Huppins, Touch of Modern, and Walt’s TV, are supporting the wireless home cinema category by offering WiSA-Certified™ speakers and transmitters and WiSA-ready TVs and projectors.

Exceeding Consumer Target

WiSA Wave has shown significant web traffic growth in the first 3 quarters of 2021 compared to the same period last year.

During that time, WiSA informed approximately 1.2 million consumers versus just under 176,000 in the same period in 2020 — representing a 550% increase.

“We are very excited with the continued consumer desire to learn more about WiSA as well as the associated growing awareness of the wireless cinema category and the products that make it a driving force in the future of home entertainment,” Tony Ostrom, president of WiSA said.

Ostrom says that WiSA, retailers, and brands will continue to work together and use WiSA Wave Marketing analytics to drive category growth. WiSA-Certified™ components from any member brand can be combined to dramatically increase the enjoyment of movies, video, music, sports, gaming, and esports.

On July 14, WiSA revealed it had increased expectations for 2021 web visitors from 1 million to 2 million, driven by the WiSA Wave marketing initiative.

In the first half of 2021, the web traffic of the association reached nearly 900,000 visitors, growing over 1,000% compared to the same period last year.

Consumers continue to use WiSA’s website to learn about the wireless home cinema category, increasing their exposure to a vast and growing selection of WiSA member products during the critical buying decision process.

During the week before Father’s Day, return users comprised approximately 25% of WiSA’s traffic, outpacing the 21% return users posted during the 2020 holiday season.

These recent users averaged 1:52 minutes on-site, defining the website as a key point for information during their unique consumer journeys. The Wave platform presents members with supercharged digital marketing capabilities that accelerate product sales.

WiSA Wave has shown significant web traffic growth quarter to quarter and year over year since its inception and expects about 850,000 more visitors in Q4 2021, bringing the 2021 expectations to 2 million.

Financial Results

The high traffic has translated to a positive financial performance according to Summit Wireless.

The company — a provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems — provided a preliminary Q3 2021 revenue of approximately $1.8 million.

This year’s revenue number shows growth of approximately 200% compared with Q3 2020, reaffirming the full year 2021 revenue guidance of 180% year-over-year.

“Consumer engagement is rising and driving revenue growth. The WiSA Wave Marketing initiative has expanded to include our foundational direct-to-consumer programs as well as our new virtual WiSA storefronts and joint marketing with retailers, which leverage WiSA’s consumer data analytics to drive holiday sales,” Brett Moyer, CEO, president and chairman of Summit Wireless Technologies, said.

“WiSA Association website visitors’ traction continues to increase and surpassed 1.2 million in the first 9 months of the year. With our solid progress combined with our strong expectations for the holiday season, we continue to believe 2021 will be a breakout year,” he added.

Q3 2021 Preliminary Revenue

• Q3 2021 preliminary revenue is expected to be approximately $1,807,000, compared to $607,000 in Q3 2020.

2021 Guidance

• Management reaffirmed 2021 revenue growth projections of 180% year-over-year.

Read more about WiSA here and Summit Wireless Technologies here.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.