Social TV has been rapidly developing in recent years. However, it has not been discussed how to connect social interactions among users to business models. This study conducts a single case study of social TV, namely Afreeca TV. Not only watching but operating broadcasting channels are allowed in Afreeca TV. It differs in terms of providing strong monetary incentives for users to operate personal channels. It generates revenue from selling gift items, which are used for viewers to give presents to broadcasting jockeys. Based on this case, the current study suggests insightful propositions for the Internet media enterprises.