Could we be one step closer to the rumored acquisition of Twitter by The Walt Disney Company?
It’s uncertain, but Disney has announced that they will be producing exclusive ESPN content for the social media network, which sent Twitter stock soaring.
The deal with Disney gives Twitter a bounty of content — Disney’s media portfolio includes ABC, Disney Channel, and Marvel Comics — to compete against larger rivals such as Facebook (FB) and Alphabet’s YouTube (GOOGL) who are also expanding their livestreaming and video offerings. Facebook’s Watch platform recently paid at least $30 million to stream 25 Major League Baseball games.
Twitter’s stock has risen sharply this year on back-to-back stellar quarters. Last week, it posted a first-quarter profit of $61 million, or 8 cents per share, on revenue of $664.9 million.
Earlier this year, Disney also announced that it will produce original content for Amazon-owned Twitch, which is currently YouTube’s biggest rival when it comes to gaming content.
All of this is in addition to Disney’s upcoming streaming service, which is believed to be positioned as a direct competitor to Netflix.
It looks like a company like Disney doesn’t have to buy a platform outright to make sure they have all the bases covered. Or they could be testing the waters to see if Twitter is a good acquisition.
More on this as it develops.[Source: Barron’s]
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