Twitter announced last week that it planned to launch 24/7 streaming video on its platform in an effort to make it become a prime destination for people who want to tune into the news. It’s now unveiled plans for its first video channel, which it’ll collaborate on with Bloomberg.
The channel doesn’t yet have a name, but The Wall Street Journal reports that it’ll feature “live news reporting” Bloomberg’s financial news bureaus around the world, along with curated and verified clips posted on Twitter by users when it launches this fall.
Bloomberg Media’s chief executive officer, Justin Smith, said:
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.
The launch of its first video channel will give Twitter a chance to sell advertisers valuable 15- and 30-second video ad spots, and hopefully start making the company some money. Video ads accounted for most of its revenue in its first quarter.
According to Bloomberg, people already follow news simultaneously on TV and on Twitter, so bringing the two experiences together might make sense. It’ll be interesting to see if that approach translates into real money for the social network in the coming year.
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