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Twitter Teams Up With Bloomberg To Stream News 24/7

1 May 2017, 6:32 am EDT By Andrew Norman Tech Times
Twitter partnered with Bloomberg LP to stream news 24 hours a day. The two companies did not elaborate on the financial aspect of the deal, but Bloomberg said it will create specific content for Twitter.  ( Andrew Burton | Getty Images )

Twitter's upcoming round-the-clock programming, which the microblogging site is set to launch soon, is taking shape steadily. Earlier in April, Twitter's CFO and COO Anthony Noto stated that the company was planning to make video streaming a 24/7 feature on its site.

On Sunday, April 30, it was confirmed that Twitter's first partner for its continuous video streaming initiative would be Bloomberg News. Bloomberg will reportedly specifically design a program schedule, which will be aired on the social media site.

Twitter's Deal With Bloomberg

According to the Wall Street Journal, Twitter's CEO Jack Dorsey and Bloomberg LP's founder Michael Bloomberg will officially announce the partnership on May 1. The announcement will be made at an event Bloomberg will hold for advertisers.

Twitter has been live streaming videos related to some events since the past few months. The site reportedly streamed over 800 hours of content in the first three months of 2017. However, now the company is planning to begin a continuous stream with its own content and programming.

"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," Noto revealed.

However, both parties are remaining silent on the financial aspect of the partnership. It was revealed that Bloomberg News for Twitter will be ad-based and the choice of content and programming for the particular channel will solely be in the hands of Bloomberg.

The WSJ also revealed that Bloomberg will not telecast the content meant for its TV channel on Twitter, but instead create new content specifically for the site.

Goals Of Twitter's Round-The-Clock Video Streaming

Twitter's recent earnings call revealed that the company suffered a substantial drop in revenue. However, it also showcased how the ad revenue from its live stream had been the greatest source of income. This is perhaps the main reason why Twitter is trying to create its own programming to draw in both sponsors and viewers.

Twitter is all set to make its first appearance on NewFronts where it will look to attract advertisers to use its platforms for the upcoming 24/7 livestreaming. However, Twitter faces competition from YouTube and Facebook in this regard.

Bloomberg Media's CEO Justin Smith is optimistic of the move and feels that Twitter has a great chance of succeeding in the field.

"Viewers have already embraced a multistream experience with live events and marrying those experiences seemed like a very powerful thing to offer to consumers," he averred.

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