The Battle For Data From Social TV via Marketing Land
Tens of millions of Americans were still glued to their TV screens (not to mention the countless other millions around the globe); but, at the same time, many millions were furiously tweeting and picking up news from the social platform. And whilst this is great news for Twitter, it highlights growing issues for traditional broadcasters and brands.
‘Social Television’ will become the norm via Cream
Networks that understand the value of real-time interaction are using the social graph to gauge effectiveness of their marketing dollars and understand audience behavior and interests…TV personalities are leveraging social to generate compelling user generated content…Advertisers have also leveraged commercials to drive viewers to their social presence for awareness and promotional activities – often to publish user-generated content or participate in social experiences…To maintain high levels of engagement when primetime television seasons conclude, networks are developing new ways to retain fan relationships through extensions of television.
Social TV has big future, says TV3 via Rapid TV News
In an interview with Rapid TV News Spain, Alex Marquina Doménec, commercial director of New Business and Digital Media at TV3, said he believes that Social TV will cause a change in media consumption habits…The world of television is in the process of transformation, as happened a few years ago with the music industry and the press, but the main difference is the volume of business in the world TV advertising market, close to a 40% share of global investment.
Over the top: the new war for TV is just beginning via The Verge
How is it that you can get a dazzling new smartphone every year with an ever-growing list of features, a better display, and faster networking, but the experience of watching television in your living room remains almost exactly the same as it was five years ago? Why are TV and cable box interfaces so slow and ugly, and why are we still dealing with gigantic ugly cable box remotes festooned with colored buttons? The answer is simple: the only killer app for TV is TV itself. Granted an almost exclusive monopoly over the most valuable content in the living room, cable and satellite companies have developed their products in a competitive vacuum, insulated from the pace and intensity of innovation that has transformed every other part of the tech industry. Smartphones and tablets might have evolved into the apex predators of the technology jungle, but the cable DVR is the mutant fish at the bottom of the ocean that breathes sulfur instead of oxygen. Read the rest of this entry »
Take a look at a few of the headlines this week: Cablevision experiments with ‘communal television viewing’; Nintendo and Xbox dabble with TV delivery and interactive content production; Samsung to award $300,000 in the first ‘Second Screen Storytellers initiative’; Shazam applies its audio content recognition technology to TV, etc, etc. Technology is rapidly transforming the media landscape and everyone (from cable operators, to information technology companies to gaming and mobile app developers) is vying for a position in a still undefined space.
Let’s not forget about the broadcast and cable networks themselves!
New research from Avid and Ovum upholds, “75% of media executives believe online, social and mobile platforms actually drive audiences to watch more television content”. Marc DeBevoise, SVP-general manager at CBS Interactive, Peter Naylor, NBC Universal’s exec VP-digital media sales, and Jesse Redniss, SVP of digital for the USA Network, are among the outspoken executives who would likely corroborate Avid and Ovums findings.
So where does that leave Social TV?
In the modern age of television, traditional measurement systems struggle to adapt to the changing environment, but Social TV is well positioned against the chaos. Social data measurement is inherently a cross platform measurement; social data is collected across all screens and devices – it applies to live, recorded, VOD and streamed media alike. The social conversation is happening 24/7 and therefore measurement never really stops. All of this makes social data well defended against fragmentation and invaluable as a real-time, 360-degree evaluation of how viewers are responding to the programs they watch and the networks behind them.
There are some who dismiss Social TV as a trend among younger demographics who aren’t as heavy TV consumers. Yet this younger audience is also tech savvy, influential, vocal and has purchasing power. These characteristics make them some of the strongest and most valuable brand advocates ad money can buy. More importantly they are getting older. Soon millennials will settle into the couch while a new crop of ‘digital natives’ or ‘plurals’ will make them look ancient. Denying the power of Social TV because a generation of TV viewers on their way out hasn’t caught on is as misguided as it is damaging. Social TV is in great position to scale along side an evolving media landscape.
For more news from around the web, keep reading!
By now it’s a well-worn path for startups: an ingenious idea, explosive growth, a fresh business model anchored to ad revenue, and, if you’re lucky, a wildly successful IPO. But just take it from Facebook, the growing pains won’t end there.
Before Twitter makes its public offering, it needs to prove its merits as a business, not simply its popularity among non-paying users. Although promoted tweets appear to be doing well, Twitter is hoping to tap the multi-billion dollar television industry to strengthen its position.
Yes, we’re talking Social TV. The stakes are high. As it shores up revenue, media experts are wondering if Twitter is reshaping its identity by moving from micro blogging service to a content creating, media company.
In May, Twitter’s UK GM, Tony Wang, urged broadcasters to adopt Social TV strategies for their own good. “Broadcasters are not the ones to choose whether to have social TV. It happens whether they like it or not. But they have a choice about how to harness that social TV energy,” he cautioned. Though his message was packaged as advice for broadcasters, it is clear that Twitter has real interest in cultivating its relationship with TV.
In June, Twitter appointed Fred Graver, creative director for Twitter partnerships, to focus on those relationships. That Graver is a well-seasoned TV executive did not go unnoticed.
Twitter has already made high profile agreements in recent months, notably with NASCAR and NBC for their coverage of the 2012 Olympics. In both instances Twitter is testing its editorial chops.
In the meantime, speculation regarding Twitter’s media ambitions continues to grow. Twitter CEO Dick Costolo recently told The New York Times, “Our business is an advertising business, we don’t sell technology.” He added, “I don’t need to be or want to be in the content business.” A few days later, Adweek came out saying Twitter is “in serious talks about the possibility of launching several original video series”.
For now, outsiders can’t be sure what to make of Twitter’s moves. One thing we do know is that Twitter is willing to experiment and it is sincere about pushing forward into the lucrative television market. Some are skeptical, saying that the company is deviating from its core service. Like any other business, Twitter will have to walk a fine line between turning profits and turning off customers.
Just yesterday it surfaced that Apple may be considering a stake in Twitter. While Apple hopes to leverage Twitter’s social aptitude, Twitter enjoys the privilege of being baked into the most popular “second screen” devices on the planet. A healthy relationship with Apple will ensure that Twitter remains an important part of the Social TV experience.
For these stories and much, much more please keep reading.
Social TV Week In Review: Growth & Tech in The TV Market – Twitter and Facebook Battle for the MoneyPosted: July 15, 2012 | |
Even amidst a staggering global economy, the television industry is poised to grow. IDATE’s DigiWorld Institute, a leading center for Europe’s market analysis in the telecomm, internet and media industries, forecasts that the global TV market will grow at an annual rate of 4.7% to €355 billion (US $435B) by 2020.
The emerging technologies that are pushing TV ahead from behind the scenes deserve due credit for some of this growth. Gilles Fontaine, IDATE’s Deputy CEO and Project Manager for the report, envisions new distribution models: “the digital store (an open platform that makes all content available to viewers) and self-supply (thanks to the destruction of the exclusive link between the access network and the TV set)”. These distribution models are underpinned by technology that allows the industry to meet the digital demands of tech savvy consumers.
Another example of technology facilitating TV growth can be found in mobile and tablet devices. According to one of eMarketer’s ‘top digital trends for 2012 and beyond’, a majority of users will access the web via a tablet by 2015. Chris Horton, of Internet marketing company SyneCore Technologies, connects the dots; “many millions of users will be accessing TV shows through their tablets”. Device proliferation and better quality video, will drive up content consumption and the price of ad real estate.
The dollars at stake in the TV industry – and the tech sector’s ability to affect its growth – make it a lucrative and logical place for social media giants Twitter and Facebook to expand. Twitter is set to take in $1B a year in ad revenue by 2014. All Things D columnist, Peter Kafka, claims this puts Twitter on the road towards becoming a media company of its own. Meanwhile, Facebook is signing network deals of epic proportions, notably partnering with NBC for the Olympics and CNN for the elections.
Listen to Mark Silva, SVP of emerging platforms at global strategic design firm, Anthem Worldwide, and you’ll realize Twitter and Facebook aren’t the only players to watch; “there’s money to be made. But the winners won’t necessarily be the companies that already have a major presence in digital and social media”.
Keep reading for more stories on Social TV and Social Video companies: Netflix, IMDb, Wywy, Aereo, Zeebox, SnapCuts, iSpot.tv, Pocket TV and Tout to name a few! Read the rest of this entry »
Technology is radically changing consumer behavior and forcing the TV industry to adapt. Out of chaos comes opportunity.
Chaos: DVR and Cross Platform Fragmentation – Are Nielsen’s overnight ratings loosing relevance?
This week, USA Today illustrated how Nielsen’s time-shifted data, coming in weeklong delay, can rebrand networks as winners or losers. Furthermore, “Just 47% of viewing by young-adult DVR users was live, down from 61% four years earlier”. If these trends continue, the traditional overnight ratings will loose value as the currency of the TV economy.
Two separate analyses conducted by comScore and Arbitron and backed by the Coalition for Innovative Media Measurement, found multi-screen TV engagement is on the rise (see articles below). Jeff Siegel, SVP of Worldwide Advertising at Rovi, acknowledges, “Challenges exist for advertisers as they strive to measure effectiveness of campaigns on new platforms and across a fragmented viewership”. With cross platform and social media measurement in increasingly high demand, traditional overnight ratings will further decrease in value.
Opportunity: Big Data and Social TV
Its not all doom and gloom. Eric Savitz, writing for Forbes, claims OTT distribution may actually be strengthening viewer relationships with brands by creating more opportunities for interaction. Among the more exciting perks waiting online are enhanced CRM capabilities and, once the wrinkles are ironed out, the tremendous power of big data.
Start-ups, television manufacturers and cable operators are scrambling to market with second screen applications designed to bring wandering consumers back into the fold. Albert Cheng, executive VP of digital media and chief product officer at Disney-ABC Television Group, remains skeptical of Social TV, citing a relatively small audience and the cost of having writers create supplementary content. Still brands and networks from Viacom, Discovery Communications, the Food Network, USA, A&E, Coke and Pepsi are all wading into the Social TV waters (see related articles below) hoping to cash in.
For all this news and more (Twitter is launching brand pages surrounding hashtags!) keep reading the Social TV News. Read the rest of this entry »