Twitter Latest News: Social Media App Will Stream 24/7 News Through Bloomberg
Twitter is reportedly having a partnership with Bloomberg for a new development. With the ever growing competition between various kinds of social media, one has to keep reinventing itself.
Anthony Noto, the COO, and CFO of Twitter revealed last week that together with Bloomberg, they will now be able to offer to its users the 24/7 news broadcast. This will be launched this coming fall and it is expected to feature fresh as well as unique reporting emanating from the different global news offices of Bloomberg. Twitter users themselves will create and post the news content but before it will be reposted to the channel, it must have accuracy and Bloomberg's verification.
CNet quoted Noto saying that with their company's speed and vast global network of content and commentary along with Bloomberg's editorial rigor with high quality. He added that their combination will be unique and powerful. Last 2016, Bloomberg has been broadcasting some live programs over Twitter. This is a part of the contract the two companies signed.
Through this deal, Bloomberg was able to introduce three shows via Twitter and their coverage on market trading, Tech Crunch reported. This partnership is most likely to happen because according to a report, 45 million viewers had watched 800 hours of live video on Twitter in the first three months of 2017.
Therefore, the social media might use the live video as a tool for its profitability, Forbes reported about this. Video has been playing a big role in the social media business and Twitter needs to keep up with rivals such as the Facebook, Snapchat, and YouTube. According to eMarketer, this year, the social media advertising industry will be worth $13 billion in the US alone. That is why Twitter has started detailing its ambition in live videos and proudly reported it has collaborated with 40 live streams partnerships last month.
According to Debrah Aho Williamson, an analyst from eMarketer, the relationship between Twitter and Bloomberg seems to have more interaction. But it is quite uncertain how many Twitter users will watch this 24/7 live video or how many fans of Bloomberg will open their Twitter account to watch a news already seen on various media properties of Bloomberg.