Social Television Market To Be Driven By Increasing Social Media Popularity In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Social Television Market Price, Trends, Growth, Outlook, Report and Forecast 2023-2028’, gives in-depth analysis of the Global Social Television market, assessing the market based on its segments like Solution, Application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028): –
Forecast CAGR (2023-2028): 11.2%
The growing attention of broadcasters to increase viewer interest in TV programmes or TV content is the driving force for the global social TV industry. The market for social TV involves technologies or channels that provide a forum for the communication of TV shows or TV content on social media (such as Facebook touch, Twitter, etc.). In order to increase audience interaction, and for traditional marketing strategies and promotions, broadcasters use social media networks.
Social Television Industry Definition and Major Segments
Social TV is the social media interaction with television shows or television content. By using smartphones, laptops, computers, wired or smart TVs, and tablets, millions of people now share their TV experience with other viewers on social media such as Facebook, Twitter, and Instagram. TV stations are increasingly posting video clips on social media about television content to increase viewer participation.
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On the basis of Solution, the industry is divided into:
• Professional Services
On the basis of Application, the industry is divided into:
• TV shows
On the basis of Region, the industry is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Social Television Market Trends
Increasing social media popularity is further boosting the development of the social TV industry. Providers of social media, such as Twitter Inc., Instagram, and Facebook, etc., also allow users to communicate with the public. For example, in February 2014, major TV networks in the US signed an agreement in the form of in-tweet real-time video clips to add a range of premium TV content to the social media site. This helps improve the interest of the viewer in TV programmes. Twitter Inc. partnered with TV entertainment firms, FMA Indonesia, Fox Sports Asia, NBC Universal, NDTV, Network 18, NET TV, Red Chillies Entertainment, SBS, Sony Music, Astro Malaysia Stadium, and Vice Media. The market is dominated by North America and Europe. This is attributed to social media use by broadcasters in these regions to increase audience interaction, conventional marketing strategies, and promotions. With the rise in internet penetration, the Asia Pacific region is projected to report the highest growth due to the increase in social media users.
Key Market Players
The major players in the market are Spredfast Inc., Sprinklr Inc., Telescope, Inc., Flowics, Snipperwall, iPowow Ltd, Sprout Social Inc., Socialbakers Ltd., Megaphone Inc., never.no, SentabTV, Talkwalker Inc., and Vizrt Group AS. and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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