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.
As Twitter (TWTR) works to attract both big brands and small businesses to advertise on its platform, one of the things the company has had to do is balance the interests of these groups.
Twitter’s (TWTR) total costs and expenses (or opex) fell 16% YoY (year-over-year) to $582.4 million in 3Q17 despite the company's announcing roughly 30 live video partnerships during the quarter.
After opening on a bearish note on Wednesday, Tesla (TSLA) was trading with 4.8% losses for the day, near $195.25 at 1:16 PM ET.
With voting conducted in seven phases panning six weeks, India’s (EPI) elections have been a grand affair—to say the least. Tomorrow is the day of the results.
Qualcomm (QCOM) stock fell more than 10% in the first half of trading on May 22 after it lost its licensing lawsuit with the US FTC (Federal Trade Commission).
Apple (AAPL) suffered a setback recently when the US Supreme Court allowed an antitrust lawsuit against the company to proceed.
Today doesn’t seem to be a good day for electric vehicle companies. Earlier today, NIO stock hit an all-time low of $4.00.
The cannabis sector has been struggling to find direction on May 22, with cannabis stocks trading on a largely mixed note in the first half.