There were thousands upon thousands of conversations taking place around X Factor on Twitter tonight as the show was screened on ITV. Trending topics included the title of the show and the two finalists to face a knockout: Danyl and Miss Frank.

In addition there were 30 to 70 Twitter posts per minute during the show and immediately afterwards tagged #xfactor. These are conversations that are taking place outside the revenue generating phone-in and SMS polling mechanisms that are part of the current show format.

Mainstream media may be fragmenting but big media properties such as Britain’s Got Talent and X Factor can still pull in huge audiences (currently 13 million for X Factor) and generate thousands of conversations. ITV is missing an opportunity. It could be embracing these conversations within its programming.

Here’s are four ways that this could be done:

• IPTV or integrated itv.com applications: conversation platform such as Twitter could be incorporated in live programming as a feedback loop
• X Factor communities: fans of each singer or band could be organised by tribe on the ITV Factor site. These could be montised via ads or affiliate schemes
• Gaming: a tie-up with an organisation such as Paddy Power would enable Twitter users to put their money where their mouth is and place a bet on their favourite to win
• Downloads: the X Factor format is a career making opportunity for each of the finalists. Music downloads of their live performances would engage motivated buyers and provide and a revenue opportunity for both the finalists and ITV

My money? It’s on Stacey Soloman of course. She’s currently second favourite on Paddy Power after Joe McElderry.