Twitter Inc.TWTR is actively engaged in enhancing video viewing on its platform. Yesterday, the company announced, in a blog post, a new way to see videos using live 360 videos.
In the blog post, Alessandro Sabatelli stated "you can check out live, interactive 360 videos from interesting broadcasters and explore what's happening with them. You'll be able to get an inside look with well-known personalities and go behind the scenes at exclusive events." He further added "when you see a video marked with a LIVE 360 badge, you can interact with it to change what you see by moving your phone or swiping the screen - all while watching live. See what's unfolding behind, above, or below the broadcaster's view for an immersive experience."
At present, all users can see live 360 degree videos but only select users can broadcast such videos through Periscope on the platform. Reportedly, the company will eventually enable all users to broadcast videos in the coming days.
A few days back, Twitter announced that users can now directly broadcast live video on its app through just a tweet. Earlier, though Twitter had integrated Periscope in its app, for the creation of videos, users' had to access Periscope.
To battle sluggish user growth, Twitter has been focusing on "live". This year saw Twitter signing a flurry of live streaming deals. The company inked streaming deals with CBSN to stream both Republican and Democratic conventions. It has also brought on board Bloomberg and Cheddar. Twitter will be live streaming market coverage as well as air several Bloomberg shows. Twitter live streamed its first NFL match with an average viewership of 243,000. It also struck deals with NBA and MLB.
Online video is the most lucrative component of digital advertising. Facebook, YouTube and others are trying to grab a pie of this lucrative market. Earlier, Twitter had mentioned that online video budgets are over $9 billion-$10 billion alone in the U.S and streaming deals will fuel a "long-term shift away from desktop video to premium mobile environments and we believe Twitter is well positioned to benefit from that shift."
However, "live" is yet to move the needle for Twitter. It continues to be in trouble with just over 313 million users and dwindling revenues. Plus, the exodus of top level management continues with chief technology officer, Adam Messinger and it's VP of product, Josh McFarland announcing to quit the company last week.
TWITTER INC Price
CEO Jack Dorsey has one Herculean task to pacify agitated investors. Twitter investors have been losing patience and one can hardly blame them. Year to date, shares of Twitter are down 29.17% compared with 5.18% decline in the Zacks categorized Internet Services ' industry. Given the mounting troubles, buyout speculations intensified a couple of months back only to fizzle out later on.
Right from Alphabet GOOGL to Salesforce CRM to The Walt Disney Company DIS , all were speculated to have shown interest in buying the micro blogging site. Reportedly, profitability issues, stagnant user growth and the infamous trolling incidents did not do much justice to the estimated bid price of $16 to $20 billion.
At present, Twitter carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here
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