We’re living in an age of unprecedented change. We experience with Oculus Rift, invest with Acorns, consume video through Hyper, tune into Pandora and navigate with Waze.
Twitter has long been a go-to source for breaking news and silly micro-memes, however the social service may be gearing up to transform into a multi-media über platform. Last week, we learned about Twitter's plans to launch a music streaming service, and now the company is laying the groundwork to stream video content.
Bloomberg is reporting that the service built around curating thought sneezes from friends and celebrities is close to reaching agreements with Viacom and NBC to bring video content to the Twitter site and associated apps. The deal reportedly would allow Twitter to stream videos and split the ad revenue with content partners.
Late last year, former News Corp suit, Peter Chernin, joined the board of Twitter to help the company navigate the media landscape. Chernin was one of the masterminds behind Hulu and has long been considered one of the most digitally tuned-in media execs. These recent non-SMS-based moves by Twitter may be the first fruits of this addition.
TV networks are dead
A pivot in Twitter's business model was bound to occur as the company has long struggled to match its outsized influence with actual revenue. The move could mark a further blurring of the media landscape, which has seen platforms such as Netflix and Amazon move into content creation, and music services like Spotify toy with offering video content.
Technology allows any platform--regardless of their original purpose--to become a medium for content. There is no technical reason why Snapchat or Foursquare couldn't one day become as important to the TV viewing public as Hulu or YouTube, if not NBC or HBO. The traditional network model has long been tenuous, but may now be close to complete obsolescence.