Twitter is making further investments in creating video content for its platform. Last week, the company announced there would also be new ways for individuals to develop and monetise on the platform.
Twitter’s ambitions to make a mark in the video streaming world are not new. In 2013, the company bought Vine, the app that allowed creators to tell a story in six seconds. Vine had a similar premise to Twitter: the challenge on both platforms is to create brief content so that you make every second - or word - count. This, much the same as Instagram stories and more recently, Facebook stories. So where is Vine? The monetary benefit of Vine became unclear in 2016, causing Twitter to shut the app down.
Twitter still provides a space in which people can post short-form content, attracting those of us who appreciate immediate content consumption. Vine seemed like the perfect video complement to Twitter, but, with the failing of that 4-year investment, they had to think ahead.
In 2017 Jack Dorsey, the C.E.O. of Twitter (pictured right. Image credit: David Paul Morris | Bloomberg | Getty Images), announced plans for the platform to become a video-streaming network. The word “network” is relevant here. Some mistake Twitter as the new home for News Coverage; when in fact, it is the home for communication about the News. It is the internet’s hub for most conversations and communities these days. While making video collaboration deals with media companies like ESPN, The History Channel, Formula 1, MTV and NBC Universal, the strengths of their service seem to be something they are keeping in mind.
Twitter’s Global Head of Content Partnerships Kay Madati said in a statement.
“We are not guessing; we are listening. People tell us what they want to see with the conversations they share on Twitter.”
So, is Twitter Netflixing itself, or trying to compete with YouTube?
Disney recently announced that it would end its partnership with Netflix in 2019. They also mentioned their intention to launch original shows with Twitter. So, at first, signs point to yes. However, maybe this is a new age for virtual industries. It is no longer Facebook vs Myspace - or LoveFilm vs Netflix. Instagram is no longer a platform solely for photography; Facebook is now also a marketplace, they have all expanded. They have become a hybrid of the virtual spaces before them. Hybrid platforms are the next thing. Platforms are not restricting themselves any more; they are diversifying their services, and it is working better than ever.
So as Twitter doubles their original content and goes all-in on video, I hope they do not lose sight of what it is we all loved about the platform in the first place. That is just my opinion. Would love to hear what you think.
@Twitter @Netflix @Openminds #Marketing #journorequest