Bloomberg Is Creating an Ad-Supported Interactive News Network Just for Twitter

The a 24/7 news channel, launches this fall

Michael Bloomberg and Jack Dorsey took part in a Q&A as part of Bloomberg’s NewFronts presentation.
Photo credit: Jamie Watts/Bloomberg Media

Twentieth-century media pioneer Michael Bloomberg sat alongside a 21st-century counterpart in Jack Dorsey this afternoon as the heads of Bloomberg and Twitter unveiled a new joint venture—a 24/7 Bloomberg-produced live news network, tentatively called Bloomberg Ticktock, that will stream exclusively on Twitter.

“These are two companies that have real skill sets with virtually no overlap at all,” said Bloomberg at the company’s NewFronts presentation. “Putting them together will really create something special.”

Dorsey said he’d long admired Bloomberg’s (the company’s) “deep appreciation for data” and Bloomberg’s (the man’s) entrepreneurial drive. “The definition of entrepreneurship is doing whatever it takes,” Dorsey said during a Q&A with Bloomberg anchor Emily Chang.

The ad-supported interactive news network launching this fall will combine the global newsgathering of Bloomberg with the digital breadth of Twitter.

“We will become the leaders in global breaking news, together,” said Bloomberg Media CEO Justin Smith.

The company has been testing the new channel and revealed that 73 percent of respondents said they would regularly use the product because they trust the Bloomberg brand. “Bloomberg stands for accuracy,” said Twitter COO Anthony Noto, adding that the social media platform had been “looking for the right media partner.”

Bloomberg Media’s global head of digital Scott Havens said the company would be “doubling down” on OTT platforms, bypassing traditional means of broadcasting Bloomberg TV.

At the presentation, which is intended to get ad buyers interested in new video offerings, the company also announced a new season of The David Rubenstein Show, which is sponsored by Wells Fargo and debuts in June, as well as two new productions from Bloomberg Media Studios: Provenance, a new show focused on the art world from collectors, academics, auctioneers, investors and artists; and Leagues of Nations, a six-episode show focused on the global business behind the sport of soccer from six different countries.

Bloomberg Media Studios is also looking to add shows on music and fashion.