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Twitter Goes Full Throttle on Live Streaming, Partners Pac-12
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Twitter, Inc. has yet again signed a live streaming deal this week. This is time it is teaming up with Pac-12 Networks to live stream games from 12 universities. Following the news, shares rose 1.24% in yesterday’s trading session to close at $17.96.
Per the deal, Twitter will be the “premier streaming partner” for Pac-12 Plus, a broadband network of live events. Pac-12 Plus will be streaming over 150 games in this academic year (2016-2017) including a number of school-produced Olympic events. Though the exact coverage has not been disclosed yet, Twitter will be streaming a number of Olympic sports.
Live streaming is emerging as a key growth opportunity for Twitter, especially as it has been struggling with user growth issues. Moreover, there is little doubt left that live streams do bring in substantial ad dollars.
It appears that Twitter is pulling out all stops to establish itself as the social media platform for live streaming of mega events. Apart from Pac-12, this week, Twitter signed live streaming deals with two other mega players as well, Bloomberg and CBS News.
Earlier this year, Twitter had clinched the streaming rights to about 10 NFL games and has reportedly also formed a deal with Disney’s (DIS - Free Report) ESPN to live stream highlights on Wimbledon. In addition, there are rumors that the company is in talks with the NBA, Major League Soccer and the cable network Turner Broadcasting to get the digital streaming rights.
Nonetheless, Twitter is not the only player out there. The company will have to face stiff competition from key tech players including Facebook and Amazon (AMZN - Free Report) , all vying to get more video ad dollars.
At present, Twitter carries a Zacks Rank #4 (Sell).
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Twitter Goes Full Throttle on Live Streaming, Partners Pac-12
Twitter, Inc. has yet again signed a live streaming deal this week. This is time it is teaming up with Pac-12 Networks to live stream games from 12 universities. Following the news, shares rose 1.24% in yesterday’s trading session to close at $17.96.
Per the deal, Twitter will be the “premier streaming partner” for Pac-12 Plus, a broadband network of live events. Pac-12 Plus will be streaming over 150 games in this academic year (2016-2017) including a number of school-produced Olympic events. Though the exact coverage has not been disclosed yet, Twitter will be streaming a number of Olympic sports.
Live streaming is emerging as a key growth opportunity for Twitter, especially as it has been struggling with user growth issues. Moreover, there is little doubt left that live streams do bring in substantial ad dollars.
It appears that Twitter is pulling out all stops to establish itself as the social media platform for live streaming of mega events. Apart from Pac-12, this week, Twitter signed live streaming deals with two other mega players as well, Bloomberg and CBS News.
Earlier this year, Twitter had clinched the streaming rights to about 10 NFL games and has reportedly also formed a deal with Disney’s (DIS - Free Report) ESPN to live stream highlights on Wimbledon. In addition, there are rumors that the company is in talks with the NBA, Major League Soccer and the cable network Turner Broadcasting to get the digital streaming rights.
Nonetheless, Twitter is not the only player out there. The company will have to face stiff competition from key tech players including Facebook and Amazon (AMZN - Free Report) , all vying to get more video ad dollars.
At present, Twitter carries a Zacks Rank #4 (Sell).
TWITTER INC Price and Consensus
TWITTER INC Price and Consensus | TWITTER INC Quote
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