Twit­ter shares jump on talk of Ap­ple TV tie-up

The Myanmar Times - - International Business -

SHARES in US so­cial me­dia gi­ant Twit­ter jumped on Au­gust 15, lifted by news re­ports of dis­cus­sions to make its stream­ing broad­casts avail­able on Ap­ple TV.

The stock was up 6.58 per­cent at US$20.82 in mid­day trad­ing on the New York Stock Ex­change, mark­ing the first time since early Jan­uary that Twit­ter shares have topped $20.

The rise came af­ter a New York Times story cited peo­ple fa­mil­iar with the mat­ter as say­ing that Twit­ter was ex­plor­ing the po­ten­tial of an ap­pli­ca­tion for the Ap­ple TV de­vice that al­lows stream­ing of on­line con­tent to tele­vi­sion screens.

Twit­ter-owned Periscope lets peo­ple broad­cast live streams of what­ever they wish and the net­work known for one-to-many mes­sag­ing has been mak­ing a grow­ing num­ber of deals to stream events.

Twit­ter and the Na­tional Bas­ket­ball As­so­ci­a­tion last month an­nounced a deal to stream live con­tent, but not games, to users of the so­cial me­dia plat­form.

Ear­lier this year Twit­ter struck a deal with the Na­tional Foot­ball League to stream Thurs­day-night Amer­i­can foot­ball games.

An agree­ment with Ap­ple TV could ex­tend Twit­ter video broad­casts to the big­gest screens in homes, en­gag­ing more users and in­creas­ing the po­ten­tial for rev­enue.

On­line video is one of the lat­est ini­tia­tives of the so­cial net­work to in­vig­o­rate its plat­form in the face of stag­nat­ing user ranks and per­sis­tent fi­nan­cial losses.

Twit­ter stock has lost two-thirds of its value since its his­toric peak of $73.31 dol­lars recorded in De­cem­ber 2013. –

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