While the rumor mill is focusing on the potential takeover of Twitter in the market, the microblogging company is busy working up on a business deal with a news startup, Cheddar.
Cheddar is an on-demand, web-focused, live video news network for the business market that is aimed at the millennials. Twitter announced that it would offer its users video programs that are live-streamed. The programs will include areas of media, technology, finance, and business. The main agenda of the social networking company is to broaden its audience chain.
Twitter added Bloomberg in July to its live-stream layout, which also includes dealings with the NBA, MLB, and NFL. However, these streaming deals were not of much help for the company to gain more market share. This downfall came at a time when the investors were criticizing the social networking firm for lagging behind of Facebook’s growth rate.
The company’s chief financial officer reported that Twitter is the fastest way to know what is happening around the world and it is the best way to engage the users from around the world in a live conversation about the happenings. This partnership with the news network Cheddar will be giving Twitter users another way to know, watch and discuss the top stories of the day from every corner of the globe, as they unfold on a single platform in live.
The Programs Which will be Covered in the Live News Stream
Though there are numerous fields of news around the world, Twitter is going to begin with the most important and the much-required news fields. The programs will include breaking news of the day, business and market coverage, conversations and interviews with startup founders and CEOs, and many other profiles of media, technology, and culture ventures.
Business and Finance Market News
There will be news programs streamed across Twitter which will include daily and live news from the financial markets. There will be an “Opening Bell” program scheduled for the morning hours and a “Closing Bell” program for news at the end of the trading day. While the Cheddar Opening Bell News program is broadcasted every day from the trading floor of the New York Stock Exchange, the Closing Bell News is consolidated from the New York Stock Exchange and the Nasdaq Market Site.
This deal comes as a boon to Twitter at a time when it is struggling to keep pace with other quickly advancing social networking sites. It is time for Twitter to expand its core base of users beyond the bounds and magnify its profitability.
Twitter reported in its last quarterly update that the number of active monthly users has ramped up to 313 million, which is a three percent increase from that of a year ago and just a slight growth from the 310 million in the previous quarter.
Last week there were reports circulating around that Twitter’s board has planned of considering new ways to cut down costs, and improve revenue. It was also planning on selling company itself or may be properties that include Fabric, a mobile application building platform or Vine, a video-snippet sharing service.
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