Twitter (TWTR) Enables Direct Broadcasting of Live Videos

Yesterday, Twitter Inc.TWTR 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, but for creation of videos, users' had to access Periscope.

CEO of Periscope said "We started Periscope because we wanted to give people the superpower to share live video with an audience. Bringing this capability directly into the Twitter app is an important step because it brings that superpower to the hundreds of millions of people who use Twitter."

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."

Meanwhile, Twitter was in for a rude shock when it was not invited at the high-profile tech summit with President-elect Donald Trump. Twitter was a notable omission at the meeting, which was attended by representatives from Apple AAPL , Facebook, Oracle ORCL and Amazon AMZN . Reportedly, Twitter's refusal to approve a "Crooked Hillary" emoji during the campaign resulted in it being not invited. However, a Trump aide was quoted by media reports saying "They (Twitter) weren't there because they aren't big enough."



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.

Year to date, Twitter shares have generated a negative return of 18.19% compared with the Zacks Internet Software Industry's negative return of 3.40%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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