Consumers of broadcast TV — both national and local — tend to be more active on social media networks vis a vis cable viewers and consumers of other media like radio and newspapers, new research has revealed. The finding comes as the social TV market is expected to grow almost 40% over the next few years.
According to TVB (and as reported by Mediapost), the not-for-profit trade association of the US’ commercial broadcast television industry has uncovered that network TV at the national and local level generated as much as 192 times more brand fans within social media than advertisers in the same category that only purchased cable.
Local broadcast TV viewers are 85% more likely to post photos and videos, while radio and cable TV users are 46% more likely to hit the Facebook 'like' button on brand posts.
The research compiled social media posts among 167 million Facebook and Twitter users across 4,400 prime-time television programs, 540 consumer brands, 570 TV stations, 1,823 radio stations and 358 local and national newspapers, leveraging Nielsen and Kantar Media data.
Meanwhile, TechNavio forecasts that the global social TV market will grow at a CAGR of 39.6% over the period 2012-2016. One of the key factors contributing to this market growth is the increased adoption of social media. However, the difficulty in validating underlying benefits of social TV could pose a challenge to the growth of this market, it found.
The key vendors dominating this market space are GoMiso, SnappyTV, Viggle and Zeebox. Overall, they’re getting more innovative too capture consumer interest, like adopting gaming features.
"Gamification is one of the major trends in the global social TV market,” TechNavio noted. “Gamification is the usage of game design strategies in non-game apps to make them more fun, and thus optimise user engagement.”
The global gamification market was valued at $202 million in 2012 and is expected to reach $3,190 million by 2016, growing at a CAGR of 99.4%. The market is witnessing the integration of social TV platforms with gamification apps in a manner that is expected to engage customers in a collaborative conversation in real time — a boon for advertisers.
“There are several TV broadcasting organisations that are providing incentives, rewards, and bonus points through social TV apps and converting the fans of their TV shows into regular viewers of the shows,” TechNavio said. “For instance, social TV apps including Viggle and GetGlue provide rewards for actions such as checking in, playing games, and answering polls and quizzes."