Bloomberg Media has launched what it is calling the first 24/7 news network built for a social-media platform.
Called TicToc, the network lives exclusively on Twitter and targets “on-the-go, mobile-first news consumers” with global, general-interest news.
The network is ad-supported, with a focus on branded native segments and other video ad formats. TicToc currently has seven founding sponsors, including AT&T Business, CA Technologies, CME Group, Goldman Sachs, INFINITI, SAS and TD Ameritrade.
The social-video network aims to combine the reporting of Bloomberg’s 2,700 journalists and analysts around the world with the digital reach and speed of Twitter.
Other publishers trying to reach a younger audience have launched daily shows on Snapchat, but this appears to be the first round-the-clock online video network on Twitter.
“The news experience is designed to be interactive, rich with Twitter content and consumable on any device,” according to a statement from Bloomberg Media Group.
TicToc features two types of content: breaking news and global news updates. Breaking news is curated and verified by Bloomberg editors in real-time conversations on Twitter and covers major events happening worldwide.
The global news updates are hourly, short-form clips. Longer clips will also be posted to give context and deeper analysis to top news stories. Currently, updates occur from 6 a.m. to 10 a.m. EST. In early 2018, they will expand to 24/7. Bloomberg is building a dedicated team of editors, producers, social-media analysts, product developers, engineers, designers and marketers to support TicToc.
“We're seeing a shift in the media landscape today. More content companies are partnering with platforms to create hybrid businesses that better serve consumers and society,” stated Bloomberg Media CEO Justin B. Smith.
Bloomberg editor-in-chief John Micklethwait added this iteration of TicToc is still in its “early days." It seems to be a rolling feed of different video programs on a variety of breaking news topics, as well as segments from reporters on the ground.
Bloomberg live streams three of its daily Bloomberg TV programs on Twitter.
TicToc was first teased
by Bloomberg in May, at its Digital Content NewFronts.