NEW YORK — Can social media bring new revenue streams for broadcast media, in particular TV stations with digitally active news departments?
You bet, says broadcast media social media ratings firm Share Rocket.
The Dallas-based company revealed its findings this morning at TVB Forward 2017, a conference stated by the Television Advertising Bureau.
According to Share Rocket’s 2018 local broadcasting estimated revenue opportunity forecast, the total estimated value for sponsored premium social content for 2018 is expected to exceed $1.4 billion.
Share Rocket’s study examined social media audiences of local television stations and the sponsored content revenue opportunities available.
Specifically, it analyzed one year’s worth of historical social impressions, video views and engagement on social media across 210 television markets. The study also took into account the “total addressable market,” a buzz phrase among marketers.
This includes such factors as the amount of time broadcasters need to ramp internal social sales efforts, speed to adapt, and the fact that stations in the top 50 markets will have the most capabilities to quickly incorporate this new advertising inventory into their sales efforts.
Share Rocket estimates that the total addressable market opportunity for 2018 is $233 million.
Share Rocket also determined the estimated value for sponsored content for top TV market segments, detailed below, with the top overall market in the U.S. being Chicago.
• Top 10 Markets = $446 million
• Top 20 Markets = $747 million
• Top 50 Markets = $1.08 billion
• Top 100 Markets = $1.3 billion
“Local TV broadcasters know that in this evolving media market with several options for consuming news, building their social media presence is key to tapping into additional audience segments and to developing new revenue opportunities,” said Share Rocket CEO Chris Kraft. “Part of our mission at Share Rocket is to provide local broadcasting stations with the knowledge and supporting data to help them monetize their social media audiences. By providing a valuation of untapped sponsored premium content, we hope to help these stations create meaningful social revenue from their highly engaged and growing social audiences.”
Kraft was set to appear on the TVB Forward panel “The Digital Monetizers—Mobile, Social, Smart TV.” Moderated by Graham Media Group VP/Digital Media Catherine Badalamente, panelists include Nielsen SVP/Product Leadership Kelly Abcarian discussing its recent Gracenote acquisition.