Shares of Twitter are up over 6.6% Monday after reports claimed that the social network was in talks with Apple (AAPL - Free Report) to launch an application for streaming National Football League games on Apple TV.
Back in April, the NFL announced that the league granted Twitter the rights to stream 10 Thursday Night Football games during the 2016 season. Twitter paid about $10 million for the games and beat out other bidders including Facebook , Amazon (AMZN - Free Report) , and Verizon (VZ - Free Report) .
(Also Read: Will Thursday Night NFL Streaming Help Twitter Stock?)
The deal with the NFL was the first in what would become a trend for Twitter. The embattled social media company has since signed streaming deals with the National Basketball Association, Major League Baseball, and the National Hockey League, among others.
Twitter’s sports streaming push is yet another effort by the company to boost its subscriber numbers and get users to interact with the site more deeply. The idea is that sports fans already go to Twitter for content related to live games, so using Twitter to actually watch those games isn’t that big of a leap.
"This is about transforming the fan experience with football. People watch NFL games with Twitter today," Twitter CEO Jack Dorsey said following the NFL deal. "Now they'll be able to watch right on Twitter Thursday nights."
Of course, a deal with Apple TV would greatly increase Twitter’s visibility and it tackles a couple of potential problems. For one, users are unfamiliar with Twitter’s streaming platform and may not look to a social media site for live coverage like that. On the other hand, Apple TV is built for viewing audiences and would be an “easier” place to watch for some.
As far as today’s trading activity goes, it might be an overreaction to the news. A new app for 10 NFL games on Apple TV isn’t the saving grace that Twitter needs. However, it IS a step in the right direction.
At this point, it seems like investors are going to react positively to any signs that Twitter and its executives are actively looking to try new things and offer new services. Heading into the week, shares of TWTR were down about 15% on the year, and the company desperately needs a revival.
For analysis on Twitter’s latest earnings report and other important earnings-related news, check out this episode of the Zacks Friday Finish Line podcast:
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Shares of Twitter are up over 6.6% Monday after reports claimed that the social network was in talks with Apple (AAPL - Free Report) to launch an application for streaming National Football League games on Apple TV.
Back in April, the NFL announced that the league granted Twitter the rights to stream 10 Thursday Night Football games during the 2016 season. Twitter paid about $10 million for the games and beat out other bidders including Facebook , Amazon (AMZN - Free Report) , and Verizon (VZ - Free Report) .
(Also Read: Will Thursday Night NFL Streaming Help Twitter Stock?)
The deal with the NFL was the first in what would become a trend for Twitter. The embattled social media company has since signed streaming deals with the National Basketball Association, Major League Baseball, and the National Hockey League, among others.
Twitter’s sports streaming push is yet another effort by the company to boost its subscriber numbers and get users to interact with the site more deeply. The idea is that sports fans already go to Twitter for content related to live games, so using Twitter to actually watch those games isn’t that big of a leap.
"This is about transforming the fan experience with football. People watch NFL games with Twitter today," Twitter CEO Jack Dorsey said following the NFL deal. "Now they'll be able to watch right on Twitter Thursday nights."
Of course, a deal with Apple TV would greatly increase Twitter’s visibility and it tackles a couple of potential problems. For one, users are unfamiliar with Twitter’s streaming platform and may not look to a social media site for live coverage like that. On the other hand, Apple TV is built for viewing audiences and would be an “easier” place to watch for some.
As far as today’s trading activity goes, it might be an overreaction to the news. A new app for 10 NFL games on Apple TV isn’t the saving grace that Twitter needs. However, it IS a step in the right direction.
At this point, it seems like investors are going to react positively to any signs that Twitter and its executives are actively looking to try new things and offer new services. Heading into the week, shares of TWTR were down about 15% on the year, and the company desperately needs a revival.
For analysis on Twitter’s latest earnings report and other important earnings-related news, check out this episode of the Zacks Friday Finish Line podcast:
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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