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Twitter Partners with Bloomberg to Enter the 24/7 Streaming News Game

by Staff Contributor on May 2, 2017
Fast Money

If you have not yet watched any streaming video on Twitter, then it is very likely that you are in a minority of the population that can boast such a claim. Streaming video has recently become just as vital to the social media platform as a one-liner from someone like @robdelaney.

Twitter’s earnings report divulged the statistic that a considerable 800 hours of live video were viewed by roughly 45 million spectators, only within the first quarter of 2017. Live video works and may potentially enable Twitter to attain the profitability it has been seeking. Thus, a partnership with a public figure as renowned as Bloomberg to stream 24/7 news appears to be a natural progression for the situation.

Ever since the two media companies solidified a deal last year, Twitter has already begun streaming a few Bloomberg programs. However, in choosing to go 24/7 with news, it seems that Twitter is entering in on an even better deal—as opposed to relying on something like a deplorable Thursday night NFL game to attract a greater quantity of users to the platform.

Interestingly enough, Twitter lost that contract with NFL to Amazon earlier this year. It has, on the other hand, been working with established companies, such as Buzzfeed and the PGA, and has even been working on the creation of original content.

This revelation seemingly could not come at a more opportune time for Twitter in light of its recent ordeals. For example, this past February, the company seemed to be faced with the inevitability of yet another round of layoffs as it struggles to establish and stabilize itself.

Twitter is in need of new visionaries, particularly ones who are not automated bots or random trolls, which seem to return out of Twitter retirement with the simple aim of attacking and criticizing the political opinions of its users. The company requires the presence of people who intend to utilize the platform with the end of consuming, instead of just assuming that they have the power to contribute.

“It’s been hard, it will continue to be hard, but it’s all worth it,” related the CEO of Twitter, Jack Dorsey, on a conference call with investors this past February as the company’s shares suffered a steep drop. “Twitter changed the way the world communicates, and we’ll do it again.”

Up until this point, Dorsey appears to be adhering you his word. According to the Wall Street Journal, the latest network business endeavor between Twitter and Bloomberg is set to launch this fall. The companies plan for the project to be a mixture of expanded Bloomberg TV network programming and curated user content.

As of now, the service has not had its name publically revealed. However, it is expected that it will likely be some sort of a mix or conjunction of the names of the two companies.

“It is going to be focused on the most important news for an intelligent audience around the globe, and it’s going to be broader in focus than our existing network,” explained Bloomberg Media’s CEO, Justin Smith.

Smith’s approach, as outlined above, seems to be a pretty reasonable one as the world seeks what Forbes called “exciting nonsense.” Most people have had their fill of daily, hourly, even minutely political coverage and want to be entertained with light-hearted and amusing content instead. This is what seems more appealing to the general audience, and thus it is this sort of strategy that will attract viewers.

That being said, it is certainly in the best interest of Twitter to take this deal seriously—as with the fragile state the company is currently in, this could be its last real chance at salvation.

Featured Image via Pixabay.

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Staff Contributor
Born and raised New Yorker with foreign parents; aftermaths include: having the tendency to switch languages mid-sentence, an endless stock of funny stories (normally founded on cultural/linguistic misunderstanding), a love of travel and reading, an excessive amount of curiosity (not nosy, just intrigued!), a sincere appreciation for food and coffee, and the ability to react to just about any situation with an infectious bout of laughter.
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