Twitter acquires Trendrr to improve its TV Business
Twitter has acquired Trendrr, a company that tracks and analyzes conversation about TV shows on Twitter and other social media sites like Facebook according to a blog post by Trendrr founder Mark Ghuneim. As a result of the acquisition, Trendrr’s founder Mark Ghuneim says existing contracts will be honored for Trendrr.TV, but it is not accepting new business anymore.
In his official post, Ghuneim states:
” Having sat at this intersection of TV and social media for years, we’ve analyzed data from lots of platforms. What makes Twitter uniquely compelling among these platforms is its connection to the live moment — people sharing what’s happening, when it’s happening, to the world. We think we can help amplify even stronger the power of that connection to the moment inside of Twitter. “
Twitter in particular has become a popular platform for real-time conversations about shows on the air, and the company has been seeking to turn television into a significant part of its business. It has acquired other companies, such as analytics start-up Bluefin Labs, and commissioned a study by Nielsen to demonstrate that high volumes of conversation on Twitter about a show can increase viewership.
Trendrr analyzes data from social media sites such as Twitter to help businesses grow their brands. The company’s products help networks, television studios, brands and media agencies use the insights it gathers to grow, Trendrr officials said. Some of the company’s clients include ABC, MTV, Telemundo and Univision.
Twitter confirmed the acquisition in a tweet, saying that Trendrr would help the social network “build great tools for the rest of the TV ecosystem.”
— Twitter Media (@twittermedia) August 28, 2013
Twitter could use Trendrr’s technology both to develop new products to encourage users to tweet around TV and other brands,and also drive more advertising arrangements based on data gathered by Trendrr. Terms of the deal are not disclosed.
Twitter faces mounting pressure to further monetize its site as it competes with rivals such as Facebook, with a possible IPO also looming. The company’s current suite of advertising products includes promoted tweets, which lets marketers place promotional tweets into certain users’ feeds.