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Twitter just announced its first quarter earnings on Wednesday and along with that the social media company also revealed some interesting things that it is planning to venture into different things in the days to come.
One significant plan of the company is to start broadcasting 24/7 live video. The company's COO and CFO Anthony Noto while talking to Buzzfeed said, "We will definitely have 24/7 [video] content on Twitter. Our goal is to be a dependable place so that when you want to see what's happening, you think of going to Twitter."
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However, nothing was disclosed or made clear as to which shows are coming or the specific timetable for the launch. Basically, Twitter has a lot in its pipeline and we are assuming that the company could bring in feeds for sports, news, and entertainment programs.
In any case, Twitter is turning its focus towards live videos and it looks like the company wants to draw some revenue from the new initiative. And taking the step forward, Twitter will likely introduce some of its new shows to try and find some big advertisers at NewFronts, an annual marketing event.
Twitter is also making this move following the loss of the company's key NFL deal to Amazon. But despite losing the deal and having seen the benefit of live video feature Twitter now wants to make the video service "a pillar of its growth and revenue strategy." According to Noto, "Live video is driving up conversation volume on the platform and it's helping Twitter offer the type of 15- and 30-second unskippable video ads for which advertisers typically write big checks to TV networks."
Besides, we believe Twitter might be hitting on a big opportunity here. It may take some time for the company to fully establish itself in the game but if things go well and according to the company's strategy, then they can own this use case. It might even give a close competition to other service providers like Netflix and Amazon.