Social TV Market

Social TV Market Outlook from (2023 to 2033)

The social TV market is expected to be valued at US$ 2.2 billion in 2023. The social TV market is estimated to be worth US$ 7 Billion by 2033. Social TV market revenue is expected to expand at a CAGR of 12%.

Social TV Market Trends and Highlights

As social TV transforms the television and entertainment industries, it is becoming a major player in the industry. The show aired on TV or online TV, along with other TV content, are all being communicated in real-time and interactively.

Smart TVs are also intended to facilitate more participatory television encounters. To provide audiences with an enhanced TV experience, social TV was developed with the central thought of enhancing the user experience.

With social TV, viewers can engage more with TV shows by sharing the content they're watching through a variety of channels of communication. Using social TV, remote viewers can interact. Social television is evident in programs like The Voice on Channel 9.

Key Social TV Market Trends

• Rising social interaction and demand for interactive TV shows.
• Increasing social media platforms and second screen applications arekey trends in the market.
• Videos containing memes, fan theories, and reactions were encouraged as part of social TV. Using this user-generated content, television shows and online communities were able to build stronger connections.
• Advertisers and TV networks collaborated with social media influencers for show promotion. Creating buzz and engaging followers will enhance viewership and engagement, which could lead to increased viewership.
• The social TV space saw platforms like Twitch and YouTube Live become increasingly prevalent. TV shows and events could be commented upon on these platforms.

2018 to 2022 Historical Analysis vs. 2023 to 2033 Forecast Projections

An 11.5% CAGR was experienced between 2018 and 2022 in the social TV market. Global demand for Social TV is predicted to increase at a CAGR of 12% from 2023 to 2033.

The popularity of sporting events is evident among a wide range of individuals. According to statistics, Americans spent more than 56 billion dollars on sports events from 2016 to 2017.

A significant spike in sales was caused by a rise in TV viewership following the COVID-19 outbreak last year. Due to social conventions that discourage people from leaving their homes, e-commerce firms have been shipping non-essential items for some time now.

Researchers found that 40% of TV viewers engage in social media while watching television. Viewers are now sharing and talking about specific shows on social media as they watch them, which has led to a new phenomenal growth.

Social TV Market Drivers

• A ready-made audience for social TV has been created by the widespread adoption of social media platforms. Considering that users are already familiar with these platforms, integrating them into television viewing should be easy.
• As smartphones and tablets have become more popular, viewers are interacting with a television on a second screen. In real-time, viewers can participate in polls, interact with content, and communicate with each other through second screen apps.
• OTT services and growing disposable income are expected to be favorable drivers of industry growth. Social TV sets are replacing conventional TVs in families, and people are changing their viewing habits.
• With social TV's ability to harness real-time interactions, it has become very popular. As viewers watch TV, they can share opinions, reactions, and thoughts with an audience globally or locally. A sense of community is fostered as a result of this real-time engagement.
• Depending on a viewer's social network activity and preferences, social TV platforms will often suggest shows and movies. Viewers can discover new content through personalized content discovery.
• Sporting events, award shows, and other live events have been major drivers of social TV. As a result, these events are ideal for integration of social TV because viewers enjoy discussing, reacting to, and sharing their feelings.
• Content creators and broadcasters can engage their audiences through social TV. Watchers are engaged even when the main content is not shown with live interactive questions and polling sessions.
• Sponsored hashtag campaigns, product placements, and interactive advertisements are among the innovative ways social TV advertising has become. Real-time advertising technology allows viewers and brands to interact with each other in real time.
• Through social TV interactions, companies can gain valuable insights into viewer behavior and preferences. Observations from broadcasters and advertisers are used to refine content and marketing strategies.
• With the popularity of social TV, user-generated content has become a crucial part of the viewing experience, including comments, reactions, and fan art. This will increase engagement and build a sense of community.
• Social TV experiences have become more popular as technology advances, which includes higher streaming quality, faster internet connections, and more powerful devices.
• Social TV has become more streamlined and intuitive with dedicated apps and platforms.

Sudip Saha

Principal Consultant

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Social TV Market Restraints

• Users of social TV platforms can become concerned about privacy when sharing viewing preferences and habits. A data breach or privacy violation may discourage users from sharing information about themselves or their viewing habits.
• The preferences and behaviors of consumers can change rapidly. This ight further restrain the market.
• Copyright and licensing issues can sometimes arise when social media is integrated with television content. Copyrighted material can be infringement on social platforms through clips, images, or discussions.
• A social TV platform that encourages user-generated content can pose content moderation challenges.
• Social TV experiences can be limited for users without high-speed internet access or devices with smart capabilities. Despite social TV's potential to expand, the digital divide can impede its adoption.
• Marketers can have difficulty finding effective social TV monetization strategies.
• Social TV can increase user engagement but can also distract users with excessive information. Commenting, liking, and sharing may become overwhelming, detracting from the viewing experience.
• Online content, advertising, and broadcasting regulations vary across different regions and countries. Social TV can be complicated and costly to implement while adhering to these regulations.
• Numerous social TV players compete for user attention and engagement in the highly competitive social TV market. Streaming services, TV networks, and social media platforms all compete for market share, making newcomers' experience challenging.

Country-wise Insights

The below table showcases revenues in terms of the top 5 leading countries, spearheaded by the United States and the India. Through 2033, these two countries will dominate the market, with a size of US$ 1.5 billion and US$ 2 billion.

Expected Market Values in 2033

Forecast CAGRs from 2023 to 2033

TV Engages More Socially as Streaming Services Proliferate in United States

According to estimates, the United States will lead the market with US$ 1.5 billion by the end of 2033 and a CAGR of 9%. The social TV industry is booming because entertainment firms have to cater to customers' preferences. Cable operators to improve the customer experience are using technology.

According to recent research, 46% of 13 to 17-year-olds in the United States watch local TV news channels. Social networks have transformed news access by providing live capabilities to enable news content to spread and expand online. Since then, TikTok has gained a lot of popularity and has become a substitute for many TVs for many users.

Among young people, YouTube is the most popular social network for news, followed by Instagram (33%), TikTok (35%), and Facebook (29%). Increasingly, TV and broadcast companies are incorporating online platforms into their operations to better engage with their audiences. Businesses are making aggressive forays into space in order to meet the growing demand in the industry.

A New Age of Entertainment through Social TV Platforms in India

According to estimates, the social TV market in India will reach US$ 2 billion by 2033. Over the next ten years, the market is projected to increase at a CAGR of 11.8%. About 600 TV channels are broadcast through DTH. Sites such as YouTube and Yahoo are constantly adding new videos in large numbers.

Smartphone use and a growing population are expected to drive social TV demand in the market. A growing number of viewers in these countries has fueled the growth of social TV demand. Growing OTT platforms and shows in India has propelled demand for social TV on the market. Both domestic and international markets present opportunities for animation and VFX studios due to the increasing popularity of over-the-top (OTT) channels, the increasing importance of animated IP, and the growing number of studios investing in VFX.

For example, iDubba is a website that can also be accessed on smartphones and tablets (app). By using SMS alerts, sharing and recommending programmes over social networks such as Twitter and Facebook, and interacting with producers, subscribers can influence how programs are viewed.

Tech Giants are Revolutionizing Content Consumption in China

Social TV in China is expected to reach US$ 1 billion by 2033. A 6.2% CAGR is expected between 2023 and 2033 in the region. A tremendous amount of data is collected in China.

Smartphone use is one of the most common forms of communication in China. Smartphones are often used by TV viewers to comment on shows, share opinions, and participate in polls. Platforms such as Douyin, Kuaishou, and Bilibili are extremely popular in China. In real time, viewers can interact with their favorite hosts and celebrities on these platforms, watch live TV shows, and send virtual gifts.

Social media elements are incorporated directly into many TV shows in China. To participate in online discussions about the show, viewers are recommended to use hashtags and subscribe to official accounts. Online participation is an interactive element in some Chinese TV shows, especially talent and reality shows.

Social media is a popular place for Chinese TV shows to connect with their fans. In addition to organizing fan clubs, online events, and supporting their favorite celebrities, fans engage in a variety of online activities. As part of social television, viewers may also be able to shop for products featured on TV shows through social media platforms. Some shows and influencers have benefited from this revenue stream.

A New Shape of Social TV is emerging in the United Kingdom Interactive Shows and Streaming Platforms

The United Kingdom's market continues to grow steadily. A 6.8% CAGR is predicted for the country between 2023 and 2033. By the end of the forecast period, Social TV in the United Kingdom will total around US$ 900 million.

Many United Kingdom viewers use their phones, tablets, or laptops to watch television. Watching TV programs entices them to tweet live, comment on Facebook, or participate online in discussions.

Social media platforms provide viewers with a great opportunity to interact with popular TV sports shows, especially live entertainment events. Viewers often participate in these shows socially and share their experiences through hashtags on platforms like Twitter.

Social media has become an increasingly important means of engaging the audience for TV networks and producers in the United Kingdom. In addition to traditional TV, they often feature social media content, comments, and reactions on air.

Through online or SMS voting, some UK TV shows provide viewers with the opportunity to vote for their favored contestants. Reality and talent shows are particularly prone to this type of engagement. The popularity of streaming services such as Amazon Prime Video, Netflix, and Disney+ in the United Kingdom has also contributed to social TV's popularity. On these platforms, viewers can sometimes share their viewing experiences on social media. They can also interact with other viewers over social media.

It is common for United Kingdom’s viewers to read, recommend, and comment on TV shows and movies via social media. Viewership of a particular show can be greatly impacted by this social sharing. In addition to providing real-time social media integration and additional content related to the show, some TV networks and third-party developers have created dedicated social TV apps.

Global Entertainment Landscape Dominates South Korea Market

Social TV market in south Korea is projected to expand by 7.4% from 2023 to 2033. A valuation of US$ 1.3 billion is expected by the end of the forecast period.

South Korea has become a popular destination for live streaming platforms like AfreecaTV, V LIVE, and Twitch. These platforms permit celebrities and content creators to communicate directly with their fans. South Korea has a thriving fan culture, and K-pop, actors, and celebrities have dedicated fan bases. Fans of these superstars and television shows are active participants in online communities.

Viewers are often encouraged to use hashtags related to TV shows by television networks and producers. Viewers can then share their experiences with each other and create a sense of community.

Social media interactions are incorporated into some South Korean TV programs. As a result, they allow viewers to participate within the show by displaying their comments and reactions on screen.

Streaming platforms like Netflix have made Korean dramas (K-dramas) popular worldwide, stimulating discussion worldwide. Mobile apps developed by some television shows in South Korea offer additional content, interactive features, and polls. Social interaction is encouraged through these apps, which makes watching more enjoyable. TV dramas and shows in South Korea are often discussed on social media, with viewers sharing their reviews and speculation.

Category-wise Insights

According to market forecasts, social TV software will dominate the market through 2033, growing at a CAGR of 12%. The TV shows segment is predicted to thrive at a CAGR of 11.5% during the forecast period.

Social TV Software Revolutionizes Entertainment Experience to the Next Level

Based on the solution, the social TV software segment is predicted to remain dominant in the social TV market through 2033. The market is predicted to expand at a CAGR of 12% between 2023 and 2033.

Social media platforms are popular places for people to share their TV watching experiences. The social features of social TV software are integrated directly into the TV viewing experience to enhance it process. With TV viewing becoming more social, the demand for such software is likely to grow. Social media activity often spikes during major live events, such as sports games and award shows. Such occasions can increase demand for social TV software that allows viewers to interact with each other through live discussions, polls, or games.

Users' social network activity and preferences can be used by social TV platforms to recommend content. Social TV software that provides rich content discovery features could become more popular as viewers demand more personalized recommendations. Social TV features have become increasingly popular with the rise of streaming services. The demand for watching experiences that are synchronized can be met with social TV technology.

Social TV software is increasingly sought after by advertisers as a way to engage advertising campaigns with viewers. A real-time feedback mechanism, interactive ads, and social sharing options can all be part of the solution.

Media companies and content creators to collect valuable information on viewer preferences and behavior may use a social TV monitoring software. In addition to improving content and advertising strategies, this data can also help viewers engage with content more effectively. In order to provide a seamless experience for users with smart TVs, social TV software must seamlessly integrate with these devices.

Aiming for a Growing Disposable Income and Investing in the Right Filters to Expand the Market

By application, social TV shows are anticipated to be the most popular in all applications. A growth rate of 11.5% is projected from 2023 to 2033. Viewers were encouraged to interact with TV shows in real-time through a second screen, like a smartphone or tablet. Social media discussion, voting, and polls are all engaging methods of participation.

Social TV engagement was largely driven by Twitter. Watchers are often encouraged to participate in the conversation by using official hashtags created by shows. Viewers could influence the outcome of some reality shows and sporting events in real-time. Voting or suggesting challenges for contestants could be included in the voting process.

With social TV shows, viewers could engage with television beyond the TV screen and enjoy the viewing experience in more ways. Social media exclusive interviews, interactive quizzes, and behind-the-scenes content could be included.

Social TV shows often display comments and reactions from viewers live during live events, incorporating social media feeds directly into broadcasts. Many TV shows and networks have companion apps that provide more content, interactive features, and synchronize with live content. Networks and advertisers were also able to gain valuable insight about viewer behavior and preferences from social TV. A targeted advertising campaign and content optimization could be conducted using this data.

Competitive Landscape

A variety of start-ups have been offering creative solutions catering to different industrial requirements in the social TV market due to fierce competition.

• In September 2023, Meta’s Horizon Worlds is rolling out on web and mobile. Horizon Worlds has been in development for more than a year and a half. In early access, the VR social app is now available on the web and mobile for some users.
• In September 2023, an emerging social network, Favs, will emerge from Stealth next January with the goal of bringing social networks back to their roots by helping people stay connected. In order to generate revenue and ad dollars, Favs intends to provide a lightweight app experience.

Report Scope

Segmentation Analysis of the Social TV Market

By Solution:

• Social TV Software
• Broadcast Integration
• Audience Engagement
• Content Moderation
• Social TV Analytics
• Social Networking Platform
• Others
• Social TV Service
• Integration and Consulting
• Operation and Intallation
• Maintenance and Repairing

By Application:

• Sports
• News
• TV Shows
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• Middle East and Africa