YouTube has established itself as the leading platform for online video content, boasting an impressive user base of 2.68 billion monthly active users worldwide as of May 2023, with a sizeable number accessing the platform on its TV app.
But, the landscape may soon witness a potential challenge to YouTube's reign as Elon Musk hints at a Twitter video app that aims to offer a similar experience. In response to a user's request for a Twitter video app for Smart TVs, Musk cryptically responded with, "It's coming."
Additionally, newly appointed CEO Linda Yaccarino hinted at Twitter's plans to focus on video in an investor presentation last Thursday, where one slide of the presentation said that vertical video accounted for more than 10% of time spent on Twitter, per Reuters.
This development follows Twitter's recent expansion of its video capabilities, allowing users to upload videos up to 2 hours in length. Musk also teased additional features such as the ability to watch videos while scrolling through the app and the inclusion of 15-second forward and backwards seek buttons.
Twitter's renewed focus on video content, including potential partnerships with political figures, entertainment figures, and news publishers, indicates a strategic effort to revitalize the platform's business beyond digital advertising.
But while Musk's announcement has sparked excitement among some users, can Twitter, traditionally a microblogging platform with a 450 million user base challenge YouTube's long-standing dominance in the video streaming space with this new feature addition?