Social TV: New Avenues, Multi Billion Opportunities (Part II)
In an earlier post i had written about how “social” was changing the idiot box TV to a smart social TV. Taking that dicscussion forward, there are broadly three arenas where social TV is quickly gaining traction, and all three have the potential to become billion dollar businesses by themselves.
Interactive Television @ Interactive Advertising
Microsoft XBox showcases Interactive Advertising
Advertisers have for long being wanting to bridge the gap between TV Ad viewership and the stimulus based engagement/action around the brand commercial. The key was about bringing interactivity to TV commercials and tagging commercials. The commercial is just the starting point of a conversation around TV but it is not the be-all end-all as more and more novel methods of engaging the consumer through the TV, Web and Mobile medium are being innovated upon. Interactive Social TV is about helping customers find relevant programming by leveraging their social graph. In other words, this becomes a real-time feed to broadcasters on viewership, likes, customer responses and other real time user stimulus.The key here is interactive advertising which enables users to experience the brand better. Advertisers, programmers and distributors have dreamed of enhancing the customer interactivity because billions of dollars are at stake. Information of users, who have interacted with a commercial and who took action on it is key to greater ad-TG convergence. Until now, the only real metric has been TV ratings, and the promise of interactive TV has never reached scale.
A primer to smarter viewership choices: Social TV
Social TV guides will empower viewers to make smarter choices and discover shows they never knew existed. By measuring what the users watched, what they liked, what their friends and social networks have recommended and what’s trending overall, social TV guides will make surprisingly-accurate suggestions. Facebook integration and back end behavioral recommendation algorithms is thus a path into the future of smart TV viewing, viewership and customer relevant targeting.
Second screens will augment the social TV experience
According to a recent Nielsen research, iPad owners spend more time in front of TV with their tablet than any other activity. Given that Tablets are predicted to increase its penetration, tablets and smartphones are becoming important second screen alternatives to augment customer experience. Second screen apps are thus becoming a natural extension of TV programming, both live and on demand. The second screen adds another path of interactivity for viewers who aren’t tagging, checking in, or clicking on TV commercials.