The convergence of media and the proliferation of content are creating unparalleled opportunities for the television industry. TV is entering an era in which profitable, engaging, viewer-informed programming can take the industry to new economic and cultural heights. For the first time, powerful technologies enable us to gather real-time data and use it to make agile, smart decisions. In the hands of a great team, these disruptive, exciting technologies can help unleash enormous value across the entire life-cycle of a TV show.
The value of listening to viewers in real-time
Social media listening and analytics has becomes a liberating construct for the television industry. In the social TV era, however, your ability to listen and garner feedback has risen to an entirely different level. Today, more than one billion people worldwide offer their insights and opinions, clues to purchasing behavior, and likes and dislikes online. Instead of relying on episodic and delayed opinions, you can capitalize on trends by taking advantage of real-time interests, attitudes and desires
The untapped prize in social media: real-time viewer data
Applying real-time listening to the TV industry reveals the most powerful dimension of social TV. The concept is simple: viewer-generated data expressed through social media improves the television ecosystem, offering “something for everyone” involved in the production and monetization process. The opportunity to mine and decipher the bountiful, relevant data being shared every minute provides a once-in-an-era opportunity to invigorate the television industry and elevate the viewer experience.
A simple, sequenced model of a show from ideation to post-premiere life can help illuminate tangible benefits of real-time viewer data across the value chain:
Making television socially aware is one of the greatest media opportunities in history. While socially enhanced television programming is still in its early phases, studies indicate that content published on the social web already leads nearly one in five viewers to programming. Now is the time to take full advantage of this powerful opportunity.
Want to learn more about how social media is changing TV? Download: The Network Executive’s Social TV Survival Guide.