In a bid to diversify and expand, Twitter has now partnered with Bloomberg for a round-the-clock streaming television news service.
Reports stated that as per the deal, Bloomberg will produce news programming specifically for Twitter.
The programming will include a mix of live news reported from Bloomberg’s global bureaus along with videos posted by verified Twitter users – streaming around the clock.
In a statement, Bloomberg Media’s CEO, Justin Smith, said that the service would “be focused on the most important news for an intelligent audience around the globe,” saying that it would be “broader in focus than our existing network.”
According to a report in the Wall Street Journal, the yet unnamed channel is expected to begin operations this fall.
Over the past few quarters, Twitter’s user growth has stalled and the company has been trying to convince advertisers that it will strengthen its user base.
As part of its efforts, Twitter has updated its product offerings including live video broadcasts from its app and launched new features to attract users.
In an internal memo last October, Twitter CEO Jack Dorsey said that one of the company’s missions was defined as being the “people’s news network.”
Over the last year, Twitter has made a push into news and sports on mobile devices.
Anthony Noto, Twitter’s COO and CFO, said that the Bloomberg deal made Twitter a viable alternative for cord cutters.
Adding, “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.”
The terms of the deal have not been revealed so far.
Twitter has previously worked with Bloomberg to stream 2016’s U.S. Presidential debates.
Source: Mobile Tech Today