Source : Pixabay/OpenClipart-Vectors
Live streaming platforms are becoming increasingly popular as the internet becomes highly accessible to everyone. As a result, the market is pretty competitive and Twitter recently dealt another blow as the company lost its streaming rights of NFL games to Amazon after Amazon bid around $50 million to secure the rights to stream the games next season.
This latest loss can be a major point for Twitter as the company’s executives recently claimed that the live video is the next big thing and the platform will look to secure more streaming rights in the coming months. Recently, Facebook announced a new agreement as they are planning on live streaming 22 MLS games for the network’s more than 2 billion monthly users. With the latest NFL deal gone, Twitter might struggle in the coming months as it makes the network to appear fragile when compared with its competitors. Recently, a video analyst at eMarketer Paul Verna said, “What we have now amounts to a one-year experiment for the NFL, and it makes you wonder about Twitter’s relevance in this space.”
While Amazon’s $50 million bid to secure the deal might seem unreasonable, this can be proven a shrewd move in the coming months as it will give them more opportunity to sell more product from its already established business. As the service is most likely to be included in the premium package, the network might gain more customers while keeping its regular customers. As more people spend time on the network, it will result in direct sales regardless of profit from streaming the games.
We will have to see in the coming days how Twitter bounces back after the company is reportedly struggling to keep itself relevant in the recent months. Not to mention the criticisms the platform takes from other from time to time.