Twitter is reportedly planning to launch a 24-hour news network on its social media platform in partnership with Bloomberg.
The news, reported over the weekend by the Wall Street Journal, could be official as soon as today. According to the report, the companies are eying a September 2017 launch for the network.
The reported news service would be a logical fit for Twitter, which has continued its progression from just a social media platform to a hub for streaming video content. Twitter is fighting back against declining user numbers.
However, Twitter is just coming off its most recent quarter, in which it added 9 million net users, its biggest additions in two years.
Twitter was recently said to be among the bidders for the rights to stream the NFL’s Thursday Night Football games after last year winning those rights for $10 million, but lost out to Amazon. Amazon is said to have bid $50 million for the same rights this season.
But despite losing out on the sought-after NFL rights, Twitter is pressing on with its video aspirations as competitors like Facebook also continue to ramp up their respective video strategies.
Twitter earlier this year expanded its deal to live-stream PGA golf tournaments. And, with Yahoo bowing out of Digital Content NewFronts, Twitter has announced plans to take the internet company’s place.
"We have made major investments in video over the past few years, and being able to present the breadth, depth and quality of that content at the Newfronts is the ultimate culmination of those efforts," said Matthew Derella, vice president of global revenue and operations at Twitter, in a statement. "In 2017 and beyond, we are investing further in the video viewing experience, content development and collaborations, and video solutions for advertisers and we are excited to tell that story to the industry."