Bloomberg Media goes against the grain and chooses Twitter as its live streaming partner
Bloomberg Media is set to live stream a number of its TV programs on Twitter in a partnership that will see it “invest aggressively in innovative distribution formats” to deliver business and financial news to a wide scale global audience.
The programs set to be live streamed include ‘Bloomberg West’, the network’s flagship technology program, ‘What’d You Miss?’; a round-up of the most important stories in the global financial markets, ‘With All Due Respect’; an analysis of the political election cycle. The network's markets coverage will also be live streamed.
The live streaming partnership marks an expansion of Bloomberg’s digital video strategy, extending the network’s reach to Twitter’s audience of over 800m people.
The news comes just hours after CNBC International announced it will trial streaming its daily morning show Street Signs via its Facebook page this week to look at whether news organisations can attract regular viewers to a specific show on a digital platform, on a regular basis. While many news organisations have been increasingly using Facebook Live and Twitter’s Periscope to report breaking news to its followers, the latest trend is looking at building loyalty to a brand.
Bloomberg Media’s chief executive Justin B. Smith, said: “We continue to invest aggressively in innovative distribution models in order to deliver the most critical business and financial news and information to our audience of busy, on-the-go, global executives.
“By partnering with Twitter, viewers from all over the world will now be able to leverage a powerful, real-time platform to consume and react to the news, accelerating our position as a leader in global business video, and offering new and innovative opportunities for our marketing partners."
Twitter’s chief financial officer Anthony Noto, said: “Twitter is one of the fastest ways to find out what’s happening in global business and financial markets, and to engage in the live commentary about it.
"Partnering with Bloomberg will give people on Twitter the best way to see live financial markets performance combined with the live commentary on the underlying drivers and implications."
The Drum reached out to Bloomberg Media on why it decided to partner with Twitter, which has 800m users, over Facebook, in excess of 1.65bn users. Bloomberg had not responded by time of publication.
The live streaming partnership between Twitter and Bloomberg demonstrates the increasing role that social platforms are playing in video and how media companies are learning to view this as an opportunity rather than a threat.
Increasingly, news outlets are using Twitter and Facebook to break stories first, looking to own a story and drive traffic back to their owned and operated properties.
Gareth Capon, chief executive of Grabyo, the official live streaming partner of Facebook, said: "This partnership marks a shift in this strategy as Twitter users will no longer have to leave Twitter to get live video (TV) updates from Bloomberg.
"Moreover, the combination of live streaming and tweets means users can also follow the conversation on Twitter whilst watching the live show - combining a "second screen" experience into a single platform."