The news stream, details of which will be announced on Monday, is likely to launch in the fall, the Wall Street Journal reported over the weekend.
The company’s ongoing struggle to grow its user base and attract more advertisers has been well documented over the last couple of years, an issue that has prompted it to shift toward incorporating an increasing amount of live video. The move mirrors similar efforts by other social media sites, among them Facebook, Snapchat, and Instagram.
It’s believed Twitter’s live news service will be ad supported, with Bloomberg having full control over its content.
Bloomberg Media’s chief executive officer, Justin Smith, told the Journal the service will be “broader in focus than our existing network,” while promising full details on Monday.
Meanwhile, Anthony Noto, Twitter’s chief financial operating officer, said the forthcoming feature will allow it to “reach audiences that are not paying for TV and are watching television on the go,” adding that Bloomberg was the “perfect partner” to launch with.
The Journal notes that Twitter is steadily increasing the amount of live video it broadcasts on its service via a growing list of partnerships that also include sports leagues and one-off events, though it also points out that the Bloomberg deal “would mark the first continuous video feed to be hosted on the platform.”
An internal memo leaked last fall showed Twitter CEO Jack Dorsey’s view of his service as “the people’s news network,” adding that an increasing number of people use Twitter “because we’re the fastest. Fastest to get news, and fastest to share news with the whole world.”
While no one expects Twitter to ever deviate from its core offering as a service that helps users to connect, share information, and discuss topics of the day, the company is keen to expand its live video element as an added feature that can benefit both its main business as well as its active base of 328 million users.
