Twitter, one of the world’s leading social media platform, hasn’t been so good with the revenue lately. But the platform now plans to start new projects to bring some money in.
At the end of its first quarter, Twitter told BuzzFeed that it plans to broadcast live video 24/7 across its platform, while making it easier for people to tune into what people are talking about.
Twitter COO and CFO Anthony Noto told BuzzFeed News:
“We will definitely have 24/7 (video) content on Twitter. Our goal is to be a dependable place so that when you want to see what’s happening, you think of going to Twitter.”
The move is quite interesting but not entirely surprising for the company, which began streaming NFL games last September and garnered 3.5 million unique viewers. However, it lost its chance to stream games over the 2017-18 season to Amazon.
The idea is important for the company as it’ll give Twitter more chances to sell valuable 15- and 30-second un-skippable video ads and that should help the company monetize its platform more effectively. Twitter’s video ads also accounted for most of its revenue in its first quarter.
For the company’s first video channel, Twitter already have Bloomberg on-board. The channel doesn’t yet have a name, but it will reportedly feature “live news reporting” Bloomberg’s financial news bureaus around the world, along with the verified clips posted on Twitter by users when it launches this fall.
Bloomberg Media’s chief executive officer, Justin Smith, said:
“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.:
Twitter, in its first 24/7 phase, plans to focus only on US-based content; but it will be interesting to see if the program expands to accommodate users from other countries as well.