Bloomberg is preparing to launch its TicToc 24/7 streaming news network on Monday morning. The service will stream on Twitter and begin at 8 AM ET. While Bloomberg is primarily known for its business news, TicToc will cover a more general set of news.
TicToc does not have a set schedule of programming or even anchors. Instead, video reports will go one after the hour to fill the hours. During its early days, the Global News Update reports will be updated every hour from 6 AM to 10 PM. In 2018, the updates will expand to every hour of the day.
TicToc will take advantage of Bloomberg’s global news resources of 2,700 journalists and analysts in 120 countries, but Bloomberg says it is also building a team dedicated to TicToc.
The stream will also take advantage of the fact that it is on Twitter and show tweets below its content. Those tweets will be selected and verified by Bloomberg staff in order to prevent false information from being shown to the audience.
TicToc’s stream will be available on Twitter’s website and mobile apps and can be watched by both Twitter users and non-users.
“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. With TicToc by Bloomberg, we’re fusing the best of Bloomberg and Twitter to build a fast and credible modern news experience,” said Bloomberg Media CEO Justin B. Smith.
“The launch of this new network further reinforces our strategy of driving innovation through exciting new products and services that touch a broad audience around the world.”
“It’s early days, but what makes TicToc by Bloomberg unique is that consumers will be able to watch live news and the conversation around it at the same time, all while a dedicated team of Bloomberg editors verifies the facts,” said Bloomberg editor-in-chief John Micklethwait. “We’re leveraging our journalism and data to reach and inform an intelligent audience on Twitter around the world.”
“Twitter is where people go for breaking news, and now our global audience can turn to TicToc by Bloomberg at any time to see what’s happening in the world no matter where they are,” said Twitter COO Anthony Noto.
“Combining the journalistic integrity of Bloomberg with the speed and global availability of Twitter makes this a collaboration we are really excited about.”
Bloomberg has announced seven founding sponsors: AT&T Business, CA Technologies, CME Group, Goldman Sachs, Infiniti, SAS, TD Ameritrade. Bloomberg says that TicToc will feature “native content and unique integrations” for the sponsors. Native advertising is a controversial form of advertising in the news business as it oftentimes gives the impression that the advertisement is actually editorial content and users have difficulty telling what is an ad and what is not.
Twitter and Bloomberg have a long history of working together in regards to streaming video. Bloomberg currently streams three programs live on the news website. Twitter has also been working to expand the amount of live coverage on the social media platform as it has embraced its perception as newsy social media. BuzzFeed recently launched AM2DM, a one hour morning news program.