Fast emerging as the new hot topic for broadcasters and TV operators looking to increase viewer engagement, social TV services are set for meteoric growth over the next five years, according to a new report from US firm MarketsandMarkets.
The global Social TV market is predicted to deliver revenues of US$ 256.44bn by 2017 with a compound annual growth rate (CAGR) of 11.2%.
Europe currently accounts for the majority of Social TV revenues, with revenues of US$ 55.48bn predicted for this year, and these are expected to grow to US$ 77.74bn by 2017.
The research firm opines that the future of television is inevitably going to involve more social elements, including the integration of social interactions and services on the television, with broadcasters in particular developing and enriching social TV features.
These findings echo the clear growth that a handful of Social TV apps and services have been seeing recently, such as GetGlue HD in the US, Zeebox in the UK and TVcheck in France.
However, a major new report from UK asset management specialist Red Bee Media found that despite second-screen behaviour being well established among UK television viewers, broadcasters are failing to capitalise on the opportunities therein.