Bloomberg will be the first Twitter partner that will make 24/7 news streaming a reality. As live video streaming is the main attraction on social media websites Twitter decided to take a step ahead in this field. In the month of April, the CFO and COO of Twitter have revealed its plans regarding 24/7 video streaming.
Hence, Twitter is partnering with a financial media company for 24/7 media company. This news channel will be streamed on Twitter by this fall and this was revealed during Bloomberg Media’s NewFront presentation that was held in New York.
This 24/7 news streaming will display live reports from Bloomberg journalists across the globe. It will also contain some videos posted by Twitter users. Twitter has been live streaming video since last few months. Twitter has already streamed over 800 hours of content. Both the companies have yet not revealed anything about the financial aspect. But, it is true that Bloomberg News on Twitter will include ads and choice of content and programming for the specific channel will be chosen by Bloomberg. This new initiative is taken by the company because it had suffered a considerable loss in the revenue. The company has also revealed that ad revenue from has been the greatest source of income for the company. Hence, Twitter is trying to create its own programming platform to draw the attention of sponsors and viewers.
Twitter revealed that its daily active users in the quarter increased from 14% and the monthly active users increased by 6%. The company is ready to stream 24/7 news content on its website that will grab advertisers to its platform. However, the company is facing competition from its rivals like YouTube and Facebook.
More than 29% people say that they get most of the useful news information from social media. The CEO of Twitter Jack Dorsey said one of the company’s motive was defined as being the “people’s news network.”