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.