Dive Brief:
- In a deal with CBS News announced on Monday, Twitter will live stream the channel's coverage of the Republican and Democratic presidential conventions, according to CNN Money.
- Twitter’s live stream will be of CBS News’ internet stream, rather than the official network coverage of the events.
- The deal is part of Twitter's larger efforts to seek live video licensing opportunities for sports, news and entertainment.
Dive Insight:
In April, Twitter struck its first live video deal, announcing it had obtained the rights from the NFL to livestream 10 Thursday Night Football games for $10 million. The deal to stream online coverage of the Republican and Democratic national conventions is part of the social media platform's efforts to expand its streaming capabilities and traditional services.
In addition to recently testing its live streaming service through ESPN’s Wimbledon coverage, it has also reportedly engaged in talks with the NBA, MLS and Turner to obtain the rights for additional sports live streams. Last month, Twitter rolled out a “live video” button for its Android and iOS apps.
Twitter’s aggressive moves to make deals for premium on-demand live content for streaming come at a time when Facebook has been very active rolling out its Facebook Live feature, even spending $50 million on deals with 140 media companies and celebrities to produce content for Facebook Live.
Live streaming video may be the feature that saves Twitter as a major player in the social media universe. Snapchat and Instagram have both recently passed Twitter in key user metrics, with the social media platform struggling to attract new users and advertising dollars. With live video, Twitter could enhance its standing as a second screen (or even become a first screen) during live events.
