Share Rocket is promising its new monetization platform will allow broadcasters to sell social media campaigns like they sell traditional TV advertising.
The company says its new engagement-based social currency will allow broadcasters to create revenue from their social media initiatives.
“Our clients generate some of the most engaging content published on social platforms,” said Chris Kraft, CEO of Share Rocket, in a statement. “Over the last three years, we have seen the struggle broadcasters and publishers of all sizes have encountered in trying to monetize their social audiences in a meaningful way. The Share Rocket currency and MONETIZE platform represents the first scalable strategy to directly monetize social media content distribution.”
Share Rocket says the platform automatically categorizes and values new ad inventory based on the type and format of content, then allows it to be sold directly by the publisher to advertising partners.
This type of currency should be valuable considering the growing number of TV broadcasters that are using social platforms like Facebook Live and Twitter’s Periscope to supplement the more traditional coverage they’re providing with their broadcast feeds.
Share Rocket, a social media ratings firm, recently pulled in a $5 million investment round from companies including Tribune Media, Fox Television Stations and Capitol Broadcasting.
“Share Rocket has become the trusted benchmark of comparative ratings that allows us to measure and monitor the reach and influence of our content, our journalists and our stations overall,” said Larry Wert, president of Tribune Broadcast Media, in a statement at the time. “Our investment in Share Rocket is a testament to our collective vision of the strategic importance of understanding, measuring and managing the value of our rapidly growing social audiences.”
Earlier this month, Share Rocket announced it is partnering with BIA/Kelsey to provide social media ratings for local TV stations.