The new streaming channel “will combine the vast global editorial and newsgathering capabilities of Bloomberg with the digital power of Twitter,” a joint statement.
Michael Bloomberg, the founder of the financial news and information service and a former New York mayor, joined Twitter chief executive Jack Dorsey at a New York media conference to make the announcement.
The streaming channel set to launch later this year will include user-generated content from Twitter which will be verified by Bloomberg editors, along with
“Today’s global news consumer wants and needs more than what’s currently available,” said Justin Smith, CEO of Bloomberg Media, in a statement.
“With this new network, we are setting out to reinvent the digital breaking news experience.”
Smith told The Wall Street Journal, which first reported the tie-up, that the new network would “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 chief operating officer Anthony Noto said in a statement, “Twitter’s speed and vast global network of content and commentary combined with the high quality, editorial
Financial details of the new venture were not disclosed.
Twitter shares jumped 6.4 percent on the news to close at $17.53, the highest since February.
The service could help Twitter expand its user base, which has been growing at a slower pace than its social media rivals.
Twitter has been seeking to broaden its appeal beyond its core user base of celebrities, politicians and journalists, ramping up efforts in video and live sports.
But in its quarterly results last week, Twitter reported a drop in revenue, despite boosting its monthly user base to 328 million, up 14 percent from a year ago.
Twitter, which has never reported a profit, said its net loss narrowed to $62 million from $80 million a year earlier.
Twitter already offers some live video news through a partnership with the streaming application Cheddar. It had rights last year to stream some National Football League
But, San Francisco-based Twitter late Monday announced a dozen new collaborations to bring original programming, live sports matches and more to the one-to-many messaging service.
Twitter streamed more than 800 hours of premium video content last quarter, Noto said.
“We could not be prouder of the success we have achieved so quickly since launching live streaming premium content,” Noto said in a release.
Content to be aired on Twitter due to new alliances included US women’s basketball games, select Live Nation music concerts, and a BuzzFeed news program. DM
In other news...
South Africa is in a very real battle. A political fight where terms such as truth and democracy can seem more of a suggestion as opposed to a necessity.
On one side of the battle are those openly willing to undermine the sovereignty of a democratic society, completely disregarding the weight and power of the oaths declared when they took office. If their mission was to decrease society’s trust in government - mission accomplished.
And on the other side are those who believe in the ethos of a country whose constitution was once declared the most progressive in the world. The hope that truth, justice and accountability in politics, business and society is not simply fairy tale dust sprinkled in great electoral speeches; but rather a cause that needs to be intentionally acted upon every day.
However, it would be an offensive oversight not to acknowledge that right there on the front lines, alongside whistleblowers and civil society, stand the journalists. Armed with only their determination to inform society and defend the truth, caught in the crossfire of shots fired from both sides.
If you believe in supporting the cause and the work of Daily Maverick then take your position on the battleground and sign up to Maverick Insider today.
For whatever amount you choose, you can support Daily Maverick and it only takes a minute.
"You at this time can only be destroyed by yourselves from within and not from without. You have reached the point where the victory is to be won from within and can only be lost from within." ~ Marcus Garvey