We originally wrote about Synacor before the company had gone public. Their technology is the glue that has allowed cable companies to provide TV content on the web, across multiple devices. During the Olympics, Synacor’s authentication technology allowed viewers to access the live stream on the NBC Sports iPad app. Our readers smartly acknowledged in the comments how the company was “taking the stage” by making the second screen Olympics possible. Now the Buffalo-based company (SYNC on NASDAQ) is adding social login capabilities.
Synacor’s new Social Login “feature creates a trusted connection among content providers and pay-TV providers, allowing consumers to bind their pay-TV credentials to their favorite social media accounts like Facebook, Twitter and Google, allowing for a seamless sign-on process,” according to their announcement. Adding this capability proves once again how tied social TV is to the technology that’s changing the way we watch TV content. Once you match one of your social logins to your provider you’ll be able to connect very easily to the platforms their technology is used in.
The company is also boasting their success in reaching 25 million pay-TV subscribers during the 2012 Summer Olympics, a truly astounding number. This type of technology is very good news for the providers who are trying to stay relevant as cord-cutters and, Roku, Boxee and Apple TV lovers aren’t seeing a reason to have pay for pay-TV. We interviewed Synacor co-founder and EVP George Chamoun about the new features.
Lost Remote: Why did Synacor launch this product? Why is it important for people to be able to login with social channels?
George Chamoun: Synacor’s goal is to make access to TV Everywhere solutions as easy as possible so our customers can offer their subscribers the latest content wherever they are. This solution offers easy access to online pay-TV content through a subscriber’s favorite social accounts, offering an additional way to access content outside of traditional methods, while securely still authorizing a subscriber for the pay-TV content that they’re entitled to.
LR: How does the technology work?
Chamoun: Social Login gives Synacor customers the flexibility to offer consumers access to online pay-TV content with their favorite social accounts like Facebook, Twitter or Google, while simultaneously authorizing with their pay-TV provider or billing account. After binding approval workflow between their multichannel video programming distributor (MVPD) account and preferred Social ID, subscribers simply log-in with their social media credentials and they have TV Everywhere content right at their fingertips. After successfully binding their Social ID with an MVPD, Social Login will work across multiple devices.
LR: How’s the company been since going public? Was the Olympics NBC app huge for exposure?
Chamoun: For the second quarter of 2012, total revenue was $30.8 million, a 58% increase over $19.5 million in the second quarter of 2011. Search and display advertising revenue was $25.4 million, a 69% increase compared to $15.1 million in the second quarter of 2011. Subscription-based revenue was $5.4 million, a 22% increase compared to $4.4 million in the second quarter of 2011.
Synacor successfully provided authentication for NBC Universal’s TV Everywhere 2012 Summer Olympics on behalf of nearly 40 pay-TV customers, spanning all 50 states, reaching 25 million subscribers – the largest TVE Olympics footprint. Also post-IPO, Synacor also provided authentication solutions for 2012 March Madness.
LR: What platforms will the Social Login be available on? Customers on board?
Chamoun: Social log-in will be available through Synacor’s Cloud Identity Management platform, and subscribers can use it to access TV Everywhere through multiple devices (tablet, laptop, etc.),. We are in discussion with several service providers about this just announced service.