Other markets have been watching social media outlets like Twitter and Facebook for quite awhile to determine what’s trendy, but the most immediate medium of live television may be joining the party in a big way.
Via The Atlantic comes this piece:
In a crowded market of screens, TV is still the biggest, commanding roughly $70 billion in annual advertising. Although viewers have more choices than ever, most of them are still tuning in live. Nielsen reports that online video accounts for a small portion of time spent watching TV, just over 2%, even after including YouTube, Netflix, and Hulu.
Facebook and Twitter have the same grand strategy to cut a slice of that $70 billion. Unike Netflix and Hulu, their plan isn’t to take attention away from TV, but rather to attract more attention to TV advertising.
In the lead-up to its IPO this fall, Twitter launched Amplify, which partners with TV channels to pump promoted tweets and short video clips (co-branded by an advertiser and network) into feeds where users are likely to be tuned into the channel. Nielsen has reported that these doubled-up ads translated to a 58-percent-higher purchase intent for consumers.
Twitter has also partnered with Nielsen, which will soon publish Twitter TV ratings with data from smartphones and tablets. A Nielsen report in August found that more tweets equal more viewers, and vice versa. In 29 percent of episodes surveyed, Twitter activity boosted live television viewership in a “statistically significant” way, and 48 percent of the time, higher TV viewership led to a higher tweet volume.
Despite huge focus on things like cord cutting, streaming TV, and the other alternatives, live television is still the way most people watch their favorite shows. If you look back a decade to the DVR panic, networks were convinced that people would be fast-forwarding all the commercials (turns out people are really lazy and shifting start times was more important to people than skipping commercials ). It seems they may have learned to embrace this new viewing trend, though. And best of all, it’s one that finally brings some semblance of democracy to TV ratings.
What’s next, à la carte cable? Dogs and cats living together? Viva la future!
Via: [The Atlantic]