Twitter & Bloomberg Team Up To Create a 24/7 News Channel

Twitter is looking to turn its bad luck around by becoming the destination for 24-hour news. The social media platform, which last week reported a decline in revenue for the first time since going public, has announced a partnership with Bloomberg as it pushes its way into round-the-clock streaming television. Together they will create a service that will stream news produced solely for Twitter 24 hours a day, seven days a week.

“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,” said Bloomberg Media’s chief executive officer, Justin Smith told the Wall Street Journal.

The channel, which has yet to be named, will be made up of live news reporting from the news outlet’s bureaus around the world, as well as a curated and verified mix of video posted on Twitter by users of the platform.

“We really think we can reach audiences that are not paying for TV and are watching television on the go and we think Bloomberg is the perfect partner for us to start with,” said Anthony Noto, Twitter’s chief financial and operating officer.

According to the Wall Street Journal, both sides declined to discuss the financial aspects of the arrangement in detail, but said the service would be ad-supported and that Bloomberg would be entirely in control of programming the feed.

Recently, video has been the light at the end of the tunnel for Twitter, accounting for the largest portion of its ad revenue in the first quarter. Unfortunately for the company, it faces fierce competition for video ad dollars as YouTube and Facebook dominate the landscape.

Though Twitter has previously streamed live programming for specific events, this would mark the first continuous video feed to be hosted on the platform. The new channel is expected to launch this fall.