Twitter Pacts With Bloomberg for 24-Hour News Channel

Will news sports save Twitter

Twitter Pacts With Bloomberg for 24-Hour News Channel

The Bloomberg-powered news channel will provide an anchor to Twitter's aggressive move into live-streaming video.

The deal appears less about getting Bloomberg viewers onto Twitter and more picking up those who prefer not to get their news fix from TV.

The CEO of Bloomberg Media Justin Smith said that the new service would have a much broader focus that the existing network.

Twitter is working with media firm Bloomberg to create a 24-hour rolling news channel for the messaging service. However, whether or not live video can translate to higher advertising revenue stream will be worth watching.

Less than a week after it was first announced, Twitter's (TWTR) round-the-clock streaming platform is starting to take shape.

The news stream, details of which will be announced on Monday, is likely to launch in the fall, the Wall Street Journal reported over the weekend.

The free, ad-supported channel will feature original live news dispatches from Bloomberg along with third-party video content culled from other sources, according to the companies. "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 ideal partner for us to start with".

Bloomberg Media and Twitter will tout the partnership at their respective Digital Content NewFronts presentations Monday. The social network has been aggressively growing its live video streaming coverage, broadcasting 800 hours of programming in the first quarter of this year, up from 600 hours in the last quarter of 2016, according to Twitter. "Fastest to get news, and fastest to share news with the whole world".

The service is expected to go live later this year.

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