Both showing interest in live videos
In recent months, Twitter has signed dozens of live video partnerships, with about 30 live video deals inked in 3Q17 alone—ten of them being international deals. Twitter closed 3Q17 with 261 million international monthly active users.
Before it launched a dedicated video section called Watch last year, Facebook had been talking favorably about progress in its live video offerings. Speaking at a Fortune event in Europe (EFA) in 2016, Nicola Mendelsohn, the Facebook executive in charge of the EMEA (Europe, the Middle East, and Africa), disclosed that live videos received ten times more comments than prerecorded videos uploaded to Facebook’s flagship social media platform. “So engagement is much higher,” Mendelsohn commented.
Eye on the online video advertising market
Twitter and Facebook also converge in terms of their video strategies in that they are both eyeing the online video advertising market, which eMarketer estimates will be worth $22.2 billion in the United States (SPY) alone by 2021. Snap (SNAP) and Alphabet’s (GOOGL) Google, which operates YouTube, also have their eyes on the online video advertising market.
Going all video isn’t Twitter’s current plan
Twitter and Facebook diverge on how they view the futures of their video strategies. While Facebook has hinted that its flagship platform may go all video in the next five years, Twitter says it has no such plans because it wants to give its audience all kinds of relevant content.
“There are so many different ways that video can manifest itself on the platform.…We don’t think about video relative to other things,” Twitter’s chief financial officer Ned Segal said at a recent UBS technology conference.