Viggle And GetGlue Maybe Getting Glued?

Reports of Viggle’s acquisition of GetGlue might be a bit hasy, since the deal between the two social TV players is contingent on Viggle raising an additional $60M in financing.

Viggle buys GetGlue in social TV consolidation play – The AppSide

Viggle’s latest financials report reveals that in the year to 30 June 2012 its revenues were $1.7m, while its net losses were $96.5m.

$100M to build a social TV application? What are they doing with all that money? It’s preposterous. That’s more than MySpace burned through in the last year, and I thought they had set the bar.

I think the reality is that people are more likely to simply continue using Twitter or Facebook when watching TV instead of switching to a specialized app. 

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