Twitter has talked for some time about wanting to be the go-to destination for streaming video, and on Monday, it put its money where its mouth is by announcing deals with more than a dozen publishers and content companies, from Bloomberg to the WNBA.
Twitter is undoubtedly hoping that all of this proprietary content will help to pull in new users—as well as retaining the users it already has by convincing them to spend more time with the app. But the primary goal of its video strategy is boosting advertising revenue.
Video ads can be extremely lucrative, and Twitter needs all the help it can get in that department. Its revenue actually fell last quarter for the first time, and the company warned that its advertising sales will likely continue to be weaker than previously expected for some time to come.
All of this means that Twitter is extremely motivated when it comes to making its video push successful. Unfortunately for the company, everyone else is also chasing those juicy video ad dollars, including deep-pocketed behemoths like Facebook and Amazon.
See more at Fortune.