While thinking about this problem in the past, I've ended up using the phrase "participatory meta-content" to describe this kind of content that's built around

While thinking about this problem in the past, I've ended up using the phrase "participatory meta-content" to describe this kind of content that's built around the audience's participation in the viewing of a show. I agree that the opportunity here is huge, but the garden walls are high. Twitch is the closest thing to a major player in this space that I'm aware of -- they've even gone to the point of simulating the live-chat experience while you watch an old stream, by replaying chat messages at their correct time-offsets. Things like this for television do exist specifically for group-watching with a known set of friends, but I think the really interesting part would be stumbling into a community you didn't know about in advance, and making new friends. Anyway, it's a shame that the licensing regimes built around the media that garners these kinds of audiences are unlikely to permit the sort of experimentation required to find the right experience here! Maybe someone will figure it out.