Twitter Inc (NYSE:TWTR) has a huge following online and is one of the most popular social networking sites. But the network now wants to add another dimension to its platform by becoming the most popular online live video destination and for that, it has signed a deal with 30 big companies in the field of broadcasting and publishing. Twitter made the announcement about the deals at the Digital Content Newfronts in New York.
Walt Disney Co (NYSE:DIS) will be creating live sports, news and entertainment videos, especially for Twitter’s platform. The aim is to increase online viewership simultaneously increasing the revenues through online videos. Disney’s sports channel, ESPN will offer videos covering sports news under the canopy of “SportsCenter Live.” It will live-stream the channel’s fantasy sports podcast. Comcast Corporation (NASDAQ:CMCSA)’s NBC Universal has agreed to offer live videos, presentations, and clips on the social networking platform through its different media channels including MSNBC, E! News, and NBC News on Twitter platform.
Viacom Inc. To Create ‘Bet Breaks’ For Twitter
Viacom Inc. will contribute through its networks Comedy Central, MTV, and BET creating new show formats such as “Bet Breaks” focusing on the perspective of African American on pop culture. The American media conglomerate will also provide a satirical take on the current happenings and trend in pop culture under the name, “Comedy Central’s Creator’s Room.”
Twitter Shares Spike After The Deal Announcement
The shares of the social media platform jumped 4.5% to $30.31 after the deal with the media magnates was announced. With this deal, Twitter aims to expand its streaming video offerings. Apart from Twitter, the companies partnering with the social media network like Disney and NBC will also benefit from the deal as they would be able to reach a high volume of audiences online.
And it has become a high priority of majority of television networks and channels because traditional television viewing in the United States and other developed countries is slowly waning and more people now favor watching series and program through online channels like Netflix and Amazon Prime.
Other companies that have inked a deal with Twitter include Will Packer Media, Hearst Magazines Digital Media, plus sports leagues including Major League Soccer, and Major League Baseball, and BuzzFeed News.