Social TV Market

Global Social TV Market Size (2024 to 2029)

The global social television market is expected to reach USD 2.50 billion in 2024 and USD 4.40 billion by 2029, growing at a CAGR of 12% during the forecast period.

Television is an important part of modern society and is considered the most interesting and influential type of media. Social television is the new age technique where television content or programs can be interacted with via social media. Millions of people now share their television experience with other viewers on social media like Facebook, Twitter, and Instagram using smartphones, laptops, computers, smart TVs, and tablets. Television stations are increasingly sharing video clips of television content on social platforms to improve audience engagement. The social television market mainly comprises the platforms that are implemented by related companies to make the public interact via broadcasting channels. Companies like Telescope Inc. and Spredfast Inc. provide a platform or solution for communicating with the public on television shows on social media.

The social television market is destined to dominate the television industry, as TV manufacturers rely heavily on this technology. There is a diversity of players in the social television ecosystem, and the industry is open to experimentation and witnessing many links between broadcasters and social media companies. While some stations merge social television into their own platforms, many people are integrating Twitter into their social TV platforms to improve the experience and personalized participation. Leading media partners like the BBC and CNN have made agreements with social media service providers like Twitter, Facebook, etc., while social media companies are already planning to enter this venture in the coming years.

Social TV is becoming a rising interest among consumers these days, along with smart TV makers, content providers, second-screen application providers, middleware companies, advertising agencies, and others. Viewers are currently looking for something interesting to see and get feedback from friends and family. Social television plays an important role during the decision-making phase when viewers want to search and choose content from various sources. Social television allows viewers to chat during the television program during its broadcast and provides them with various statistics on movies, videos, shows, sporting events, games, actors, etc. Social media allows viewers to socialize virtually around the television.

Global Social TV Market Drivers:

The determining factor in the global social television market is the increasing concentration of broadcasting organizations to improve public participation in television programs or content. The social television market comprises various innovative technologies that offer assistance for the transmission of TV programs on social networking sites like Facebook, Twitter, etc. Broadcasters use social media to improve consumer engagement and for traditional marketing and promotions. With social media, entertainment companies can maximize their programming content by integrating streaming-focused analytics from around the world. This factor stimulates the global social television market. Recent technological advances in broadband programming on personal computers and "smart" televisions continue to drive market growth.

Impact of COVID-19 on the global social TV market:

The global TV market will take a hit due to the COVID-19 outbreak in 2020. For instance, the leading global brand, Samsung, which has TV manufacturing units in nations like Hungary, Czech Republic, Mexico, and Vietnam, was less affected than its counterparts at the beginning of the pandemic. However, with the closing of borders in Hungary and the lockdown in the Czech Republic, Samsung may face difficulties in its operations in Europe for some time. However, there is no discrepancy in its operations in Vietnam production lines. Similarly, LG display’s production units in Gumi and Paju in South Korea have not recorded any decline in manufacturing numbers, apart from a minor lockdown in the Gumi facility, so LG’s panel supply should stay normal.

GLOBAL SOCIAL TV MARKET REPORT COVERAGE:

This research report on the global social TV market has been segmented and sub-segmented based on the software, professional services, application, and region.

Global Social TV Market - By Software:

• Broadcast Integration         

• Audience Engagement      

• Content Moderation          

• Social TV Analytics

• Social Networking Platform

The global social TV market is divided into Broadcast Integration, Audience Engagement, Content Moderation, Social TV Analytics, and Social Networking Platforms based on software.

Global Social TV Market - By Professional Services:

• Integration and Consulting               

• Operation and Installation

• Maintenance and Repairing  

Depending on the Professional Services, the worldwide market is divided into Integration and Consulting, Operation and Installation, and Maintenance and Repair.

Global Social TV Market - By Application:

• Sports       

• News         

• TV Shows 

On the basis of Application, the international marketplace has Sports, News, and TV Shows.

Global Social TV Market - By Region:

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus

As mentioned, the global social television market has been segmented geographically into North America, Europe, Asia-Pacific, the Middle East, Africa, and South America. North America and Europe dominate the worldwide market because broadcasters in these regions use social media to improve consumer engagement, traditional marketing campaigns, and promotions. The Asia-Pacific region is supposed to experience the highest growth due to the increase in social network users with the increasing penetration of the Internet and smart devices.

KEY MARKET PARTICIPANTS:

The major players operating in the global social television (TV) market include 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.

RECENT HAPPENINGS IN THE MARKET:

• In February 2014, prominent television networks in the United States signed an agreement to bring a variety of premium television content to Twitter in the form of real-time video clips. This is aimed at increasing public participation in television programs.

• In September 2018, Twitter shook hands with television entertainment companies FMA Indonesia, Fox Sports Asia, NBC Universal, NDTV, Network 18, NET TV, Red Chillies Entertainment, SBS, Sony Music, Stadium Astro Malaysia, and Vice Media. The hike in Internet penetration is fuelling the growth of the global social television market.