Twitter Looks to Drive TV Viewership with SnappyTV Purchase25 Jun, 2014 By: Doug McPherson
SAN FRANCISCO – Twitter reports it will buy SnappyTV, a service that edits and shares video clips from TV.
Analysts say the deal marks the latest effort from Twitter to establish itself as a true social TV service in an effort to boost engagement and attract more television ad dollars. Brands have used SnappyTV to share video clips in real-time and through Twitter’s program called Amplify, which lets partners promote TV clips on Twitter.
“As we continue to invest in video, it’s important for us to provide tools that make it easy for TV broadcasters, businesses, and event producers to share high-quality videos,” Twitter said in a blog post announcing the deal. “To that end, we’ve agreed to acquire SnappyTV.”
Baljeet Singh, director of product management at Twitter, also wrote in a blog post: “We’ve worked with the biggest content partners ... to inject ... video content into Twitter’s real-time conversation, straight from the TV to your mobile device.”
Twitter recently agreed to buy Namo Media and paired their respective native ad technologies. Soon after Twitter bought mobile ad exchange MoPub last fall, Twitter debuted a native ad product for mobile app publishers.
A recent forecast from BIA/Kelsey says social media ad revenues will grow from $5.1 billion in 2013 to $15 billion in 2018 – representing a compound annual growth rate of 24 percent.