Twitter Inc (TWTR) Announces Bold New Feature: Project Lightning
Twitter Inc (NYSE:TWTR) kept a tight lid on their newest plans, but a Buzzfeed report released Thursday morning detailed the company’s plans to shake up the way users interact with live news. Titled “Project Lightning”, the new initiative will focus on popular events, such as important sports games, music festivals, pop culture events, and breaking news scenarios. A dedicated staff of editors will curate Twitter’s best tweets and highlight them to mass audiences.
A new button will be added to Twitter’s mobile application that will take users to a selection screen of events taking place around the world. Unlike when viewing regular tweets, those picked by the editing staff will take up users’ entire phone screen. Users will also have the ability to follow individual events, having the curated tweets appear on their regular timelines.Kevin Weil, the Senior Vice-President of Product at Twitter, described the project as “a brand-new way to look at tweets.” He added: “This is a bold change, not evolutionary.”
Weil went on to describe the difficulty that an average user faces in seeking out Twitter’s best content. Because so many people are constantly using the site, it can be hard to find the most effective, creative, or powerful information. With a dedicated staff working to find these Tweets, Twitter’s best will be right at the fingertips of every user. Whenever there is a lot of people tweeting about something, Twitter has the ability to create this “experience” around it.
Right now, Twitter is trading at $34.66 per share, and the announcement seemingly hasn’t had a major impact on share prices. Twitter currently holds a Zacks Rank #3 (Hold). Investors should keep a close eye on Twitter, as it will be interesting to see whether this announcement will impact upcoming earnings estimates or help this troubled company turn things around.
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