Twitter has been the preferred medium of choice when discussing live events, the commentary often becoming more entertaining than the event itself to the point that many shows are now integrating the microblogging site as a regular fixture.
Of course, Twitter have noticed this, and have formed a partnership with Twitter analytic companies Mass Relevance, whose main work includes Twitter integration in NBC's The Voice as well as E! online's coverage of the Oscars, and Crimson Hexagon, who powered the Twitter analysis in CNN's 2010 election coverage, for this purpose.
Details have been scarce, but the partnership means that these companies can work with media firms in integrating Twitter's services into their shows or websites without Twitter's direct help. This would mean that both companies have access to the millions of tweets that are posted every day to curate and pick out for broadcast.
On the official Twitter developers blog, Jason Costa says that:
"Brands, publishers, and TV networks often work with Twitter ecosystem companies to design and build great Twitter experiences for their users and viewers. Two of our most well-known platform partners - Mass Relevance and Crimson Hexagon - deliver impressive results for many brands and publishers. They are the most recent ecosystem companies Twitter has established formal partnerships with in order to help brands and media companies more easily deliver compelling Twitter integrations to their users. Expect to see additional partnerships of this kind as we look for new ways to help everyone get the best out of Twitter.â€
Revenue Stream Through Media
While very few details have been revealed about the deal, it's easy to see that Twitter are looking for a way to take advantage of the different revenue streams that the company can tap into. On Mass Relevance's site, they've said that the partnership is "to publish and display syndicated Twitter content, as well as directly monetize the content through sponsorships or direct response."
This is something that both Twitter and TV stations want to happen from the deal. Media companies would be more willing to work with Twitter as it allows live discussion, which means more people are watching their show unfold, resulting in more viewers and more advertising revenue.
The same benefits apply for Twitter as media companies are always looking for new ways to engage their audience and will invest in it if it means a greater share of viewing figures.
This could potentially be one of many different avenues that Twitter is exploring. Other revenue streams that they're exploring are 'promoted tweets,' which allows a company to advertise on your news feed for a set fee.