Twitter said on Wednesday that it has struck new content deals with media and entertainment companies to bring exclusive live streaming and video highlights onto the social media platform in return for a share of Twitter’s advertising revenue.
It will include the partnership to stream "hundreds of hours" several kinds of videos like game highlights from the UEFA Champions League, live Red Carpet events, action and interviews from Formula One and other programming. Twitter’s new partners include Indian partner Red Chillies Entertainment, CNBC parent company NBCUniversal, National Rugby League (NRL), Seven West Media, FOX Sports Asia and Sony Music Australia.
Global vice president of content partnerships at Twitter, Kay Madati stated that company has been working with each of the partner to structure the deal in which partners will produce content for Twitter in exchange of share in advertising revenue and social media giant will put advertising around it. Madati emphasized that this projection is not to be competitive with linear broadcaster rather it is to enable companies reach Twitter’s audience.
Twitter is envisioning “enormous” amount of video consumption and significant growth in Asia-Pacific audience as research reports have revealed that nearly 2.38 billion people watch streaming or download digital video content at least once in a month.
In July, Twitter founder and chief executive Jack Dorsey announced the decline in Twitter’s audience posting the fall of 1 million to 335 million which is expected to fall further because machine learning algorithm of Twitter identified more than 9 million potential spam or automated accounts per week.
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