Social TV is a buzzword that will soon be going mainstream, as on Tuesday Twitter announced that has acquired Bluefin Labs, an internet research company that analyzes the conversation about television and advertising across several social media platforms, including Twitter. The new deal will open up yet another ‘potential’ revenue stream for the micro-blogging site, as they will be looking to sell all kinds of research data to both television networks and television advertisers.
Business Insider first reported the deal on Monday, and both Bluefin and Twitter followed suit on Tuesday to confirm the new deal. Some analysts believe that Twitter paid a whopping $90 million to purchase the Cambridge-based research firm. Neither Bluefin Labs nor Twitter would comment on the price of the sale.
Bluefin Labs was founded by two MIT researches just four years ago and had raised close to $20 million in funding over the course of that time. The company utilizes its information to help advertisers understand and analyze how their ads are being viewed by consumers–specifically what kind of feedback consumers have for their commercials. For networks a different form of data allows them to better understand what viewers are saying about the shows airing and which ones viewers spend the most time discussing via social media.
With Twitter now owning Bluefin they will be able to leverage there already close contacts with television producers and advertising agencies to further sell analytical data. Providing research data to those who seek it, for a price, could be revenue solution Twitter has been seeking since its inception.