Social media company Twitter has announced that it has struck new deals with media and entertainment companies to bring in more sports and entertainment videos.
The deals will bring in “hundreds of hours” of live-streaming and video highlights with some partners being Sony Music, VICE, and FOX Sports Asia.
Twitter said in a statement that the deals would expand the kinds of videos that are available on its platform to audiences and advertisers in the Asia Pacific region.
The videos would include game highlights from the UEFA Champions League, action and interviews from Formula One and live Red Carpet events, as well as other programming.
According to Twitter’s global vice president of content partnerships, Kay Madati, by the year 2020, the platform will have roughly 1 billion views in videos on its site from Asia Pacific.
“We work with each of our partners to structure the deal where they’ll produce the content and then we put advertising around it, and then we work out a (revenue) share,” said Kay Madati on CNBC’s “The Rundown.”
Madati has said that the company is seeing an “enormous” amount of video consumption and double-digit audience growth in Asia Pacific.
“In fact, we are projecting by about 2020, we’ll be at about a billion views here in (Asia Pacific) alone,” he said.
He added, “That strength has actually led to a lot of inbound inquiries and outbound inquires where we have had partners want to come work with us to extend their reach.”
Madati has also said, “When something happens in the world, it happens first on Twitter. In the moment, the audience reacts on Twitter and we’re working directly with our content partners to be able to insert that video into the conversation that erupts on the platform.”
Twitter reported that average monthly active users were at 335 million in its second quarter earnings report. This was a decrease of 1 million quarter-over-quarter.
The company had written a letter to shareholders that said that monthly active users could decline in the third-quarter due in part to its efforts to clean up the site by removing certain accounts.