TV app market to generate revenues of €1.3bn

A new report by In-Stat claims that the TV apps market could generate revenues of more than €1.3 billion by 2013.

The company forecasts that US shipments of consumer electronic devices, which support TV apps, will grow from 4.6 million in 2010 to 83.4 million in 2014. In-Stat expects at least one connected TV device in each US broadband household by 2014.

Writing for Newsline in March, Bruno Pereira, co-founder and director of the TV App Agency, commented: “The convergence of smart devices is set to revolutionise media consumption – and it is TV apps that are driving the change. That change in media consumption is likely to have a major impact on TV marketing and advertising, just as the TV advertising market returns to strength.

“The TV advertising market is undergoing a resurgence. Revenue in 2011 was up 2.2% year on year to a record £4.36 billion in 2011, just as the TV market is set to experience its next technological leap. Smart TV – or TV connected to the internet – is opening up an entirely new opportunity for brands and marketing.”

Read the Digital TV Europe.net article here.