According to a report on the Wall Street Journal, the partnership will be announced on Monday by Bloomberg founder Michael Bloomberg and Twitter CEO Jack Dorsey.
How Twitter is going to integrate video-news into its existing service remains to be seen. But the company has definitely an edge on the news-front and can benefit from news related real-time data and a massive user base.
Bloomberg´s Media chief executive officer, Justin Smith is quoted by the WSJ saying that the service “… is going to be focused on the most important news for an intelligent audience around the globe and it's going to be broader in focus than our existing network.”
Twitter-Bloomberg News Service to Start in Fall 2017
As the report points out, the channel is expected to start later this year and won´t just be a re-broadcast of Bloomberg´s existing TV operations. Instead the plan is to provide topic specific live news reporting from Bloomberg´s many bureaus from all around the world and to blend this with curated video-clips that will get posted on the social network.
Financial details of the agreement have not been disclosed but both companies said that the service would be ad-supported.
How this will work, still remains to be seen as Twitter is facing strong competition from Google and Facebook regarding video ads.
Twitter´s user growth has also slowed down in the last year and its advertising business so far is not earning the money, the company was hoping for.