Social TV to be worth $256.44 BN by 2017
Joseph O'Halloran | 12-10-2012
It has been described as a nice thing to have that can’t be monetised properly, but social TV is set to reap significant amounts of revenue for operators according to new research by MarketsandMarkets.
In its "Social TV Market: Global Advancements Forecasts & Analysis (2012 - 2017)" report, the Texan analyst predicts that the total social TV market is expected to reach $256.44 billion by 2017 with a CAGR of 11.2%. The report reveals that Europe currently owns the lion’s share of social TV market revenue and is set to account for $55.48 billion in revenue at the end of 2012 and is expected to reach $77.74 billion by 2017, at a CAGR of 7.0% from 2012 to 2017.
Looking at the drivers for this growth, MarketsandMarkets fundamentally states that the future for the television is social through integration of social interaction on the television, with broadcasters developing and enriching social TV integration to target customer engagement and loyalty to boost rating.
The report noted the rise of social television tools and applications that are giving customised television experiences based on the viewers’ choice of interest. It also observed that many companies have developed second screen applications to engage more viewers and to increase the targeted audience. However the analyst does caution that broadcasters are also discovering the social TV challenges.