This week I was lucky enough to not only attend, but work behind the scenes at the SocialTV Summit run by Andy Batkin. I want to give a huge thanks to Andy – I shamelessly begged him for a ticket via Twitter and he was so kind to let me be a part of this amazing event. Lesson: It pays to be tenacious.
There were a ton of great ideas bounced around during the day (Lost Remote gives a great overview), and I saw lots of correlation to the ideas presented at Hill Holliday’s #TVNext this past January (and a lot of the same faces). I loved that periodically throughout the #SocialTV Twitter stream was projected on the main screens – anyone could join the conversation.
My main take-aways:
*Though it’s still a tiny infant, SocialTV is here to stay. There are a lot of experiments – and failures – to come as the industry develops, but isn’t that just energizing?!
*SocialTV may have a direct impact on the survival of live TV, especially when it comes to sports. The NFL in particular comes to my mind – all those damn commercial breaks makes it prime for social sharing.
*Consumers do NOT want the first screen polluted and networks need to respect that.
*And probably the most important point of all: Advertisers will play a key role in funding the SocialTV industry, and we need to get them on board stat.
Lost Remote’s Natan Edelsburg quotes Kevin Conroy, President, Interactive Media Group, Univision:
We’re still at a point where it’s a mistake to monetize [social] impressions on a discreet basis, those impressions on a standalone basis are not value enough to drive the right economics. A great bridge to get where we all want to go is by recognizing that those impressions when packaged into an overall experience have a lot of value. The media business is about reach and frequency, and we have opportunities through this lens…. I think we’ll lift the value of these impressions, lift the CPM. Let’s face it, it’s not free for us, it’s not free for everyone. We need to begin to see that kind of ROI to invest further.
There were very few agencies represented at the SocialTV Summit which was surprising. I strongly believe that there can be successful SocialTV advertising campaigns that are mutually beneficial to all parties involved – networks, agencies, and the consumer – but it’ll take a lot of creative thinking. Let’s start now!
And finally, here are just a few more of my favorite Tweets from the day: