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The demand for live streaming options increases with a growing generation and endlessly developing tech space. And Twitter has surrounded itself with streaming partnerships. From the NFL to MLB and even eSports, Twitter has been netting deals with all sorts of sports organizations this year.
Earlier this week, Twitter experienced a monstrous jump in stock prices after reports leaked regarding discussions that company would potentially make its streaming options available on Apple TV. The social media company’s stock rose 6.58% at $20.82 in midday trading on the New York Stock Exchang—the first time since January that Twitter shares have topped the $20 mark.
After a New York Times story revealed information from people close to the project who explained that Twitter has been flirting with the potential of an application for Apple TV that would include streaming online content, business started booming. This agreement would certainly aid in engaging more users and increasing potential revenue for the social media site, which they desperately need.
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Since Dec. 2013, Twitter stock has lost two thirds of its value since its peak at $73.31. Its debut released on Wall Street at an IPO price of $26, which is still lengths away from what the company is at today.
Live-streaming has been the site’s saving grace, according to Noah Mallin, the head of social at media agency MEC. “Twitter is the world in your pocket,” said Mallin. “And when they first started saying that, it was hard to bring that to life for somebody that hadn’t been on the platform. With live-streaming, it becomes so much more obvious what that means, and it actually breathes life into what Twitter’s all about.”
For a 10-year-old company, Twitter is in need of a jump-start. Apple TV has more than 10 million customers in the US aloe and the 310 million global Twitter users has plateaued.
In order to compete with its rival, Facebook, Twitter needs to double-down on its live-streaming as Facebook’s own live video platform takes off. Bringing streaming options to Apple TV would make an obvious impact.
Although Twitter and Apple have declined requests to comment on the reports, the trend of its live-streaming deals in the past makes the possibility believable. With the increase in streaming live sports content, the future looks bright for a social media company like Twitter ... if it can capitalize.