Inside Twitter’s Live Streaming Deals
Twitter’s first live streaming deal in the entertainment space
Twitter (TWTR) entered into a deal with Warner Brothers Pictures (TWX) and BuzzFeed to live stream the red carpet premiere of Warner’s “Suicide Squad.” This deal marked the company’s first live streaming partnership in the entertainment segment.
Previously, the company entered into a deal with Bloomberg to stream three of its daily news shows. Twitter and CBS News (CBS) also entered into a new partnership wherein Twitter will be able to live stream CBS’s coverage of the Republican and Democratic national conventions.
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The company has also struck several live streaming deals with major sports leagues. All these efforts are likely to drive the company’s advertising revenues, which have witnessed a decline in growth rate amid tough competition.
Twitter’s recent move bodes well with upcoming events
Twitter is striving hard to become the dominant player in the digital streaming space, and considering the close proximity of two major events like the Summer Olympics and the US (SPY) presidential election, the company’s efforts could very well boost user engagement and, in turn, advertising dollars on its platform.
Twitter continues to be a well-known platform for live tweets on breaking news and other popular events, and these strategic moves are part of the company’s larger efforts to differentiate itself from other social media platforms and attract new users.
Now let’s take a closer look at Twitter’s peers.