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Social Television is the union of television and social media to make television a more active and interactive experience, millions of people now share their TV experience with other viewers on social media such as Twitter and Facebook using smartphones, smart TV, and tablets. In 2018, digital advertisements reached a total spending of around US$ 220.3 Bn growing at a rate of 13% per year. Additionally, GlobalWebIndex reports that 92% of internet users now watch online videos each month, meaning that more than 4 billion people around the world are consuming online video content since 2018.
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Monetization of online videos including live videos, the growing popularity of social media, and content sharing are the trends in the global Social TV market. Furthermore, the introduction of Prime facilities to users providing better features than traditional TV including recording and unlimited access would also fuel market growth. Additionally, free access and availability of the majority of social networks such as Facebook, LinkedIn, Twitter, etc. backed by the ease of use, user-friendly interface, and instant Content Selection, and Sharing features would also contribute in the growth of global social TV market.
The key players in the global social TV market include Samsung, Twitter, ConnecTv, Sprinkler Inc., Telescope Inc., Yidio, Buddy Tv, Apple Tv, Ooyula etc.
· TV Shows
· Others (institutional)
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
North America and Europe are major dominants of the market owing to the factor that broadcasters in these region use social media to enhance consumer interaction owing to, high social media user base and high internet penetration across the region.
In Asia Pacific, large population backed by expanding online user base in countries including India, China, Japan etc. Additionally, cheaper devices and affordable data connections owing to government regulations in countries such as India would be a factor for high growth of social TV market across the region.
Key Industry Developments
· 2014-2017: Coalitions of content providers and advertisers such as Google, Facebook, Twitter etc.
· 2018: Media and tech companies such as Hearst, Time Warner, BSkyB, and Google are backing several Social TV start-ups with huge investments.
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