Twitter Partners With Bloomberg for 24/7 Live Streaming News Network Launching This Fall [Updated: New Shows]

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Last week, Twitter announced
plans
to launch a network of news-based TV shows that would
stream on the social media company’s apps 24 hours a day, 7 days
a week. Now, a report by
The Wall Street Journal
has confirmed that Twitter
will be partnering with Bloomberg in its live streaming endeavor,
and together the two plan to launch a service “that will stream
news produced solely for Twitter,” and is set to debut sometime
in the fall of 2017.

The network, which has yet to be officially named, will
showcase the “most important” pieces of news going on every day
around the world, and Bloomberg Media CEO Justin Smith
mentioned that it will be “broader in focus” than the media
company’s existing network. The Bloomberg/Twitter hybrid won’t
be a simple rebroadcasting of Bloomberg’s existing news
streams, but consist of all-new reporting from various global
Bloomberg bureaus.


Twitter’s contribution to the network will come in the addition
of crowdsourced footage being added into news pieces through
videos posted on Twitter during related news coverage.

“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.

“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.

The monetary aspect of the deal was not disclosed by
either Twitter or Bloomberg, but the companies did confirm that
the network would be supported by advertisements and that
programming duties would entirely fall on Bloomberg’s shoulders.

The report comes ahead of the official announcement of the
partnership, set to happen later today at an event that
Bloomberg is holding for advertisers, where Michael Bloomberg
and Twitter CEO Jack Dorsey will both be in attendance.
Previously, Twitter and Bloomberg partnered to cover the
presidential debates last year on the social media network.

Besides those debates, Twitter has embraced live video during a
number of special events, including the inauguration and pre-
and post-shows for the 2017 Oscars. Video has subsequently
turned into a major effort for Twitter, and in the first
quarter of 2017 became one of the largest portions of the
company’s ad revenue, ramping up alongside similar video
projects from rivals Facebook and Snapchat.

The advantage for users watching Twitter and Bloomberg’s
network will come thanks to the ability to watch live news
coverage while simultaneously viewing and posting commentary of
it from Twitter’s social network. “Viewers have already
embraced a multistream experience with live events,” said
Smith. “And marrying those experiences seemed like a very
powerful thing to offer to consumers.”

Update: Twitter has now revealed details on
new shows coming to its 24/7 live streaming network with the
help of partners other than Bloomberg, including
BuzzFeed, the WNBA, and The Verge. The full
list of partners and shows — which range from sports coverage
to fashion-related commentary — can be found on
Recode
.