Total social TV market to reach $256.44 BN by 2017

According to a new report released by analyst company MarketsandMarkets, social TV will eventually result in huge amounts of revenue for operators. The Social TV Market: Global Advancements Forecasts & Analysis (2012 – 2017) claims that revenue will reach $256.44 billion by 2017.

MarketsandMarkets predicts that Europe currently owns the largest share of the market, accounting for $55.48 billion in revenue at the end of 2012 growing to $77.74 billion by 2017.

“Social TV Market is set to take the television industry by storm as television manufacturers are betting big money in this technology,” the report states. “There exists a diversity of players in the Social TV ecosystem, as the industry is open to experiments and is witnessing many a tie-ups between broadcasters and social networking companies.

“While some broadcasters are amalgamating Social TV within their own platforms; there are many, who are integrating Twitter into their Social TV platforms for enhanced custom experience and participation. Industry players such as BBC and CNN, on the other hand have signed deals with social networking players such as Facebook, as social networking companies are aggressively trying to venture into this space.”

More details of the report can be found at MarketsandMarkets.