Twitter to Live-Stream Bloomberg TV Shows, Share Ad Revenue

Follows Deal to Stream CBS Coverage of GOP and Democratic Conventions

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Jack Dorsey, co-founder and CEO of Twitter, walks the grounds during the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, last week.
Jack Dorsey, co-founder and CEO of Twitter, walks the grounds during the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, last week. Credit: David Paul Morris/Bloomberg
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Twitter will live-stream three different Bloomberg Television news programs later this fall, Twitter and Bloomberg said on Tuesday.

Representatives declined to discuss terms of the deal, but Twitter plans to sell ads against the content as part of a revenue sharing deal with the network, according to people familiar with the deal. The ad component will be similar to Twitter's NFL deal, they said. That means marketers can run pre-roll video and in-stream ads on non-live clips.

The programs include "Bloomberg West," "What'd You Miss?" and "With All Due Respect." Twitter will also carry the network's market coverage.

"We continue to invest aggressively in innovative distribution models in order to deliver the most critical business and financial news and information to our audience of busy, on-the-go, global executives," Bloomberg Media CEO Justin Smith said in a statement provided by Twitter. "By partnering with Twitter, viewers from all over the world will now be able to leverage a powerful, real-time platform to consume and react to the news, accelerating our position as a leader in global business video, and offering new and innovative opportunities for our marketing partners."

Tuesday's news is just one of many live streaming deals made by Twitter since winning the rights to live stream 10 NFL games for the upcoming season in a $10 million deal. The company has already sold over 60% of its NFL inventory to marketers.

Meanwhile, the company tested its technology last week in a partnership with Wimbledon and ESPN. Yesterday, Twitter said it will live stream both the Democratic and Republican National conventions in a deal with CBS News.

Twitter CEO Jack Dorsey has been striving to sharpen the company's strategic plan and restore momentum to user growth. Last week Ad Age reported that Twitter was in the final stages of closing "about 10" different partnerships with media providers to live stream content on its platform. Twitter has previously said it wants to test its technology before it begins selling ads for its live stream offerings.

Twitter is aggressively ramping up its digital video efforts as user growth has stalled at about 310 million monthly active users. The company is trading at about $18, a far cry from its initial public offering of about $26.