X (formerly Twitter) is launching a new connected TV app
X's move could redefine competitive dynamics in digital media.
It appears that Elon Musk won't stop until X (formerly Twitter) becomes an "everything app". Last month, it introduced long-form videos to TV screens, and before that, it brought audio and video calls to the platform.
Now, it is making a bold move into the world of video streaming with the introduction of its connected TV app.
As global internet video traffic is projected to dominate 82% of consumer internet traffic by 2022, according to Cisco, X's entry has the potential to reshape viewing habits and expand its revenue streams significantly.
Joining the likes of YouTube, Netflix, and Amazon Prime, X enters into direct competition in the video streaming market. With its vast user base of over 500 million, it aims to enrich content creation and consumption by promoting direct interactions between creators and viewers.
However, the challenge does not lie in just attracting viewers but also in maintaining a strong content pipeline to rival the extensive offerings of competitors like YouTube with over 2 billion monthly users.
As digital platforms converge to cater to diverse digital lifestyles, X's venture into video streaming could redefine competition in digital media. Leveraging its social media success, X is poised to make a substantial impact in the video streaming sector.
