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Consumers' increased interaction with digital devices as well as increased culturally-relevant content, are drawing heightened attention from brands and agencies alike to Social TV. And more brands are venturing into the space.
As the Social TV industry begins to take notice of Latino viewers... there are new ventures to try and lessons to be learned.
Terra has developed many successful social TV initiatives with video streaming and social media integration. from social media sharing tools to commenting tools so that users can "like" the content, share it with friends, comment directly on screen or tweet about it.
One example, Terra Live Music, is an interactive platform that includes live streaming and video on demand. Driving its creation, notes Rodríguez, is Latinos' increasing consumption of content via alternative screens as well as the new tide of devices coming into the market.
"We should prepare better to engage the consumer at any time and in any device," says Rodríguez. "Today, we're monetizing that engagement via what we're seeing on the web. But we're all aware that we need to connect with the consumer when they're reaching brands and consuming content through on-the-go mobile devices."
Social TV seems to be the natural evolution from the traditional TV screen to multiple screens and more highly connected interfaces where users can chose the programming they want when they want it and how they want to interact with the content provider as well as other users.
Today's Social TV Summit, taking place at the Fontainebleau Hotel in Miami Beach, examines the use of technologies that allow viewers to interact, socialize, search, share and "buy" as they're tuned to their favorite shows.
How are Hispanics interacting with Social TV? What content are they consuming?
Social TV provides a way for Hispanics to connect with other viewers while they watch all types of video content – news, sports, entertainment and music. Social media is affecting the way users are consuming and viewing video content on all screens and Hispanics are using the social media tools to do that.
What kind of Social TV activations are currently on Terra Networks?
We're giving an interactive experience to users who chose to watch videos online from their laptop/computer or via mobile through tablets or smartphones. We have integrated all types of social media tools in our video players and online TV interfaces to allow users to interact with the content and with each other.
What are some of these tools?
It ranges from social media sharing tools to commenting tools so that users can "like" the content, share it with friends, comment directly on screen or tweet about it. It's the most popular social media tools from Facebook to Twitter, Google + and more.
What Social TV platforms does Terra offer?
Terra provides video streaming – both live streaming and video-on-demand – as well as regular video shows and content in sports, entertainment and music on our Terra TV platform where users can also use the social tools while watching the online content.
Can you share some of the programs?
We live stream shows from all over the world on our homepage - from the World Standup Paddle and Paddleboard Championship to Fashion Week in Madrid last week. Users can watch and interact from whichever device wherever they are. We also have our ongoing Terra Live Music program where we live stream artist shows from our Miami studio or from concert venues. There were also several pan-regional sports events - from the Pan American games to the Olympics in Latin America – broadcast on multiple screens and on almost 36 channels in HD where users could interact.
What are the pros and cons of Social TV for Terra?
It allows more interaction between the content producers, the artist/talent being interviewed and our users who can ask directly questions to our VJ. And lets the audience participate in the program and contribute to the content creation. We are also receiving direct feedback and comments – allowing us to learn directly from the audience what they want.
I cannot think of any cons for Terra; we've embraced Social TV from the beginning.
How do you explain the importance of Social TV to an advertiser?
They can merge video commercials and encourage users to share and participate. Plus, Social TV allows advertisers to maximize their dollars – incorporating the brand into the extended conversations. And it connects the brand and the consumer on a more personal level, effectively telling them "we are on the same page."
Name three advertisers that are using Social TV correctly to connect with Hispanics.
Pepsi, T-Mobile and Ford. Kraft's Trident and Macaroni & Cheese are also doing a good job.
How does an internet portal like Terra monetize Social TV?
We're doing it through special programming sponsorship and by seamlessly integrating the brands and advertising within the platform and user experience – through skins, online videos, etc. We marry the live streaming experience with the advertiser experience; telling the consumer that they can watch the content for free because a brand has sponsored it.
How does an advertiser make money from Social TV? Where's the ROI?
They can interact with the users without being intrusive and they can be part of the fun. The ROI will depend on the objectives of the specific advertiser. If an advertiser's objective is user engagement, Social TV is a good way to go.
Where does Social TV fit into a client's 360-degree marketing plan?
Social TV provides both a very visual and interactive experience. By leveraging both, advertisers can reach their target audience in very creative ways and get them engaged.
If you had to describe the future of Social TV in the U.S. Hispanic market in one word, what would that be?
Can Social TV have a negative impact on traditional media? How does it benefit traditional media?
Yes, Social TV can have a negative impact on traditional media if you don't adapt and catch up with consumers' shifts in behavior. If you adapt, then it can reinforce both the consumer engagement and monetization.