One of the initial social media networks has decided to widen its horizon and try a hand at television streaming. Twitter Inc. recently released the news of teaming up with Bloomberg Media to come up with a streaming television news service. The Twitter Bloomberg partnership will launch a round-the-clock streaming television service. This is a first for the social-media company as it has established itself as a useful source for information but now it is taking a step further to broadcast this news on a streaming platform. For this, the global financial news outlet will help in creating this service to provide news solely on Twitter 24 hours a day and seven days a week. The announcement of this news took place on Monday at a Bloomberg event but the name of the channel hasn’t been finalized yet.
The founder of Bloomberg, Michael Bloomberg and the Twitter CEO, Jack Dorsey together made this announcement. This isn’t the first time when the two companies came together. Previously, the Twitter and Bloomberg collaborated for the official coverage of the presidential debates held in the U.S. last year. This shows that as the companies are familiar with each other’s working style, they can jot down strategies taking into consideration the strengths of both the parties involved. The anonymous news channel of Twitter Inc. and Bloomberg Media will begin operating in the fall of this year itself. Bloomberg’s CEO, Justin Smith states that the main focus of the channel will be on the most important news catering to an intelligent audience. Along with this, the area of focus will be broader in comparison to the existing network of Bloomberg.
What will the Twitter Bloomberg partnership cater to?
A while back, Twitter introduced the feature to stream live programming for certain events. This feature turned out to be quite successful as it witnesses almost 600 hours of programming in the fourth quarter of 2016. Live streaming gained better momentum in 2017 as the company broadcasted 800 hours of programming in its first quarter. But the streaming television service is an absolutely novel venture for the company as the platform will host its first continuous video feed. This venture might also help Twitter regain its lost position in the market. This is in context with the decline in revenue of the company since it went public. The company relies on this formula to convert a currently average user base into a rapidly growing ad platform.
The chief operating and financial officer of Twitter Inc., Antony Noto elaborated on the Twitter Bloomberg partnership. He stated that they aim to reach the audience which watches television on the go. Twitter also believes that Bloomberg is the perfect partner for such a venture. Both the companies have refrained from stating the financial details of the partnership. But it is clear that the service will have complete ad support. Bloomberg has been handed over the complete control of programming the newsfeed. The companies seem confident of this venture as live and online streaming are progressing trends on various internet portals.