Twitter will broadcast non-stop news using Bloomberg
The American Social Network for Short News Twitter Inc. Opened its first partner in an effort to become a 24-hour streaming television operator Bloomberg. Social Media unites efforts with a global source of financial news to create a service that will broadcast Twitter-only news 24 hours a day, seven days a week.
“The service will be focused on the most important news for a smart audience around the world and will have a wider focus than our existing network,” said Bloomberg’s chief executive, Justin Smith, quoted by The Wall Street Journal.
The partnership will be announced later Monday at a media event of Bloomberg LP for advertisers from founder Michael Bloomberg and Twitter Chief Executive Officer Jack Dorsey.
The channel, whose name is due to be announced and is expected to be broadcast this fall, will not just re-cast the existing Bloomberg television, but will consist of news from the studio’s studio around the world, As well as a processed and verified mix of videos posted on Twitter by users of the social media platform.
Twitter now broadcasts live events programs. The company emitted 800 hours of programming time in the first quarter of 2017 compared to 600 hours in the fourth quarter of the last year. But the partnership with Bloomberg will mark the first uninterrupted video emissions to be broadcast on the platform.
The most significant agreement in the same direction so far on Twitter was the agreement with the National Football League for broadcast on Thursday night of the last season’s matches. Later, Amazon acquired the rights to live to the stream of football matches this season. Earlier, Twitter has partnered with Bloomberg to cover the presidential debate last year.
“We think we can reach the audience that does not pay for television and watch TV on the go, and we think Bloomberg is the perfect partner for us to launch these efforts,” says Anthony Noot, Chief Financial and Operations Director On Twitter.
Both parties refuse to discuss the financial aspect of the deal but clarify that the service will be supported by ads and that Bloomberg will completely retain control over programming.
Efforts are taking place in anxious time for Twitter, which reported a drop in earnings for the first time since it became a public company. She struggles to find a successful formula to transform her significant consumer base into a fast-growing ad business.
It’s the video that has been a bright twist on Twitter lately, and it generates the bulk of first-quarter ad revenue.
Still, the company faces fierce competition for video advertising revenue. Google’s YouTube dominates this business, but Facebook Inc. Speeding up its efforts in the video, and Snapchat is aggressively targeting the same revenue source. All of these companies hope to win advertisers’ welfare and shift a significant part of their costs from television to online video.
After a long period of slow growth, Twitter has finally gained a significant number of users. In the past quarter, the social network adds 9 million monthly active users, the company said. In the same quarter a year earlier, despite the attention paid to the tweets of Donald Trump’s campaign, the number of new entrants was only 2 million, according to Reuters. Thus, Twitter already has 328 million monthly active users.
In the previous two-quarters, the number of new users is stagnating at the same level. Like most other networks, Twitter is focused on attracting more users with significant free services, and to fund advertising revenue. But the 11-year-old company failed to handle this task as well as some of its competitors.
The drought in terms of finance continues. In the first quarter, revenue fell 8 percent annually to $ 548 million. The main reason is the decline in advertising revenue by 11 percent to 474 million dollars. Twitter is trying to generate more money through ads, such as company-sponsored tweets in the news feed of consumers.
The company remains at a loss but shrinks it with a quarter — up to $ 62 million. In pre-trade, stocks rose 11 percent, as data exceeded analysts’ expectations. Around the company recently, there was speculation about an acquisition. According to them, the competitor of the German SAP Salesforce.com and media concern Walt Disney are on the social network.