Social TV Market – Snapshot
Television is a major component of modern society. It is not only a dominant media activity but is also considered the most exciting and influential media type. Social TV is the interaction of television program or television content on social media. Millions of people now share their TV experience with other viewers on social media such as Facebook, Twitter, and Instagram by using smartphones, laptops, computers, connected or smart TV, and tablets. TV broadcasters are increasingly sharing video clips about television content on social platforms to enhance audience engagement. The social TV market includes the technologies or platforms offered by companies to interact with the audience by broadcasters. Companies such as Telescope Inc. and Spredfast Inc. provide a platform or solution to communicate with the audience about TV programs on social media.
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The driving factor for the global social TV market is the increasing focus of broadcasters to enhance audience engagement in TV programs or TV content. The social TV market comprises technologies or platforms which provides a medium for the communication of TV programs or TV content on social media (such as Facebook, Twitter, etc.). Broadcasters are using social media networks to enhance consumer engagement, and for traditional marketing campaigns and promotions. With social media networks, entertainment companies can maximize their programming content by integrating broadcast-focused analysis tools across the world. This factor drives the global social TV market. Recent technological breakthroughs in broadband-delivered programming on personal computers and “smart” TVs further boosts the market growth.
Growing popularity of social media further boosts the social TV market growth. Social media providers such as Twitter Inc., Instagram, and Facebook, etc. are also helping users to connect with the audience. For instance, in February 2014, major TV networks in the U.S. signed an agreement to bring a variety of premium TV content onto the social media platform in the form of in-tweet real-time video clips. This helps to increase audience engagement in TV programs. In September 2018, Twitter Inc. collaborated with TV entertainment companies, FMA Indonesia, Fox Sports Asia, NBC Universal, NDTV, Network 18, NET TV, Red Chillies Entertainment, SBS, Sony Music, Stadium Astro Malaysia, and Vice Media. The increase in internet penetration fuels the global social TV market growth globally.
The global social TV market has been segmented in terms of solution, application, and region. In terms of solution, the market has been segmented into software and professional services. The software solution is further categorized into broadcast integration, audience engagement, content moderation, social TV analytics, social networking platform, and others. Professional services are sub-segmented into integration and consulting, operation & installation, and maintenance & repairing. The global market is divided by application into sports, news, TV shows, and others.
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Geographically, the global social TV market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America and Europe dominate the market. This is due to broadcasters in these regions using social media to enhance consumer engagement, traditional marketing campaigns, and promotions. The Asia Pacific region is expected to register the highest growth due to increase in social media users with the rise in internet penetration.
This report on the global social TV market provides market revenue share analysis of the various vital participants. Some of the key players profiled in the report include Spredfast Inc., Sprinklr Inc., Telescope, Inc., Flowics, Snipperwall, iPowow Ltd, Sprout Social Inc., Socialbakers Ltd., Megaphone Inc., never.no, SentabTV, Talkwalker Inc., and Vizrt Group AS.
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