★ Twitter Signs Deal for Custom 24/7 Channel with Bloomberg (May 1, 2017)
Last week, the day before Twitter’s earnings, it briefed BuzzFeed on its plans for 24/7 live video, and this week it’s announcing that it will achieve that objective at least in part through an expanded partnership with Bloomberg. But whereas Twitter has so far just carried the standard Bloomberg stream, this new partnership will have at least some exclusive content and also apparently a broader coverage than the existing, very business news-oriented, channel. As of when I’m writing, all the details aren’t out yet, but the channel is to begin airing sometime in the fall. This is an interesting partnership, but I reiterate what I said last week, which is that just having content is not the same as having compelling content, and even if there’s an exclusive element to this Bloomberg deal, business news or even news in general doesn’t quite fit the bill. I’m intrigued to see the details here, but as of right now I have a hard time seeing this make a big difference to Twitter’s smallish live video audience (just 14% of its monthly active users watched even 2 seconds of one live video last quarter), let alone its overall growth or ability to monetize its audience better.
Update (3:40pm MT): Bloomberg and Twitter have now announced some more details around the new channel, and it’s an interesting idea: become the breaking news network that takes what’s happening on Twitter and curates and verifies the information before feeding it out in a live TV show. Given how central Twitter is to the 24/7 news cycle already, I’m not convinced this is new and different, and if the emphasis here is on verification (certainly not a bad thing) it may actually mean the in-house network is slower to break news than CNN etc. One of the big problems with 24/7 news coverage is also always the challenge of filling time and keeping viewers engaged, which lends itself to sensationalism (to make unimportant stories seem important) and lots of filler material (because there’s never always something newsworthy going on). It’ll be interesting to see if Bloomberg and Twitter can collectively overcome these two, because otherwise we’re just getting yet another always-on news channel with little to differentiate it. The proof is totally going to be in the pudding with this one.
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