Twitter, Inc. (TWTR)  

​Twitter to Join With Bloomberg Media to Stream Debates 


Jackpic
Jack Duffy | FlashRatings | Wednesday, September 21, 2016 2:25 PM EDT
Twitter (TWTR) will join with Bloomberg Media to stream the upcoming presidential and vice presidential debates online, putting it in direct competition with Facebook (FB) in giving viewers a digital alternative to television. 

Twitter will stream Bloomberg Television’s live broadcasts, beginning with Monday’s debate between Republican Presidential nominee Donald Trump and Democrat Hillary Clinton at Hofstra University in Hempstead, N.Y., the companies said Wednesday.

“By leveraging the power of Twitter's enormous real-time platform for reaction and analysis, this partnership will provide viewers the opportunity to watch and interact with the news coming from this fall's debates as they happen live on smartphones, computers and TVs,"  Bloomberg Media CEO Justin B. Smith said in a statement.

The agreement represents an expansion of a partnership Twitter and Bloomberg Media announced in July and comes just a day after Facebook announced plans to team up with ABC News to stream the debates. Both social media platforms are trying to attract a growing generation of cord-cutters that spend more time on mobile devices than in front of the TV.

Twitter is also hoping the live steaming of the debates and sports events will raise its tally of monthly users and rejuvenate its stock price, which has fallen by around 28% over the past year. 

Analysts remain generally bearish on the stock, with 24 issuing ratings in the past 30 days but only 16% positive. The current median price target is $16, or a 12% downside from the current price level.

Twitter shares slipped by 0.4% to $18.31 in afternoon trading on Wednesday.