Twitter And Bloomberg Team Up To Stream Live 24-Hour News Content On Social Platform

Twitter is teaming up with Bloomberg for live news content on the social media platform, the Wall Street Journal reported.

The ad-supported channel, which has yet to be named, is expected to launch this fall. Twitter CEO Jack Dorsey and Bloomberg founder Michael Bloomberg were to announce the collaboration Monday.

Read: Twitter Is Testing A Bot That Can Handle User Complaints

The global business news outlet is Twitter’s first partner for its push into 24 hours of live streaming TV. Bloomberg, which will control the program feed, will create a service that will stream news content produced specifically and only for Twitter 24 hours, seven days a week. The channel’s content will be made up of live news reporting from Bloomberg’s bureaus around the world, as well as a “curated and verified mix of video posted on Twitter” by its users, the report said.

“It is going to be focused on the most important news for an intelligent audience around the globe and it’s going to be broader in focus than our existing network,” Bloomberg Media CEO Justin Smith told WSJ late Sunday.

He also cited the habit many Twitter users have of tweeting while watching a live event on TV, pointing out it makes sense to mix both.

“Viewers have already embraced a multistream experience with live events, and marrying those experiences seemed like a very powerful thing to offer to consumers,” Smith said.

The move comes at a time when people are moving away from cable companies and switching to streaming services like YouTube, Hulu, Sling TV and other services.

“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 perfect partner for us to start with,” Twitter’s chief financial and operating officer Anthony Noto said.

Read: Twitter Reportedly Partnering With Networks To Stream Live Pay-TV Channels

Twitter is competing for video ad dollars with Google, Facebook and Snapchat. The company recently reported a decrease in revenue as it struggles to make money off ads. However, video has been working out for Twitter, making up the largest slice of its ad revenue in the first quarter.

The news comes after Noto said in an interview Twitter “will definitely” have 24/7 video content on the platform.

“Our goal is to be a dependable place so that when you want to see what’s happening, you think of going to Twitter,” he added.

Twitter has live streamed events before, including a previous partnership with Bloomberg for the presidential debates last year. In March, Twitter announced it was teaming up with ESL and DreamHack to bring eSports tournaments and other live content to Twitter. Twitter said it would live stream more than 15 events and 1,500 hours of live content for ESL One, Intel Extreme Masters and DreamHack Tournaments.

Twitter also had plans to live stream National Football League content through a $50 million, one-year deal for the rights to 10 Thursday Night Football games. However, Amazon beat out Twitter, Facebook and Youtube earlier this month.