Twitter Inc (TWTR)’s Livestreaming App, Periscope, Goes Live On Apple’s App Store

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Twitter Inc (NYSE:TWTR) continues to improve its platform with the release of Periscope, a livestreaming app. The company said the app will first be available on Apple Inc. (NASDAQ:AAPL)’s App Store, but will be rolled out for other mobile platforms in the future. Periscope is a direct competitor of the earlier released Meerkat.

Released on iOS

Just like Meerkat, Twitter Inc (NYSE:TWTR)’s Periscope enables users to broadcast video footage captured on their mobile devices, to a live audience, on the microblogging site. Users can broadcast virtually any authorized video content, such as a friend’s birthday party, on Twitter, using Periscope. For the first time, Periscope has been released for iOS users on the App Store, but Twitter is working on a version for Google Inc (NASDAQ:GOOGL)’s Android platform.

Periscope is expected to be a handy sharing tool for those with a large following on Twitter, because it allows them to keep their fans updated, with livestreams. The launch of Periscope comes just when Twitter Inc (NYSE:TWTR) recently announced the launch of a feature that allows capturing and editing of video clips directly on the platform.

Benefits of Periscope over rivals

Twitter Inc (NYSE:TWTR)’s Periscope is expected to be widely adopted because of its features, which seem to make it better than rival Meerkat. For one, Periscope looks polished in many ways. The other advantage, that Periscope seems to have over Meerkat, is that it supports recording of the livestreams for later viewing. Nevertheless, Meerkat may have a leg up because of its early release, which has led to the coning of the term ‘Meerkatting’ for livestreaming.

Twitter Inc (NYSE:TWTR) brought Periscope under its arm through the acquisition of the company that was developing the app independently. The value of the acquisition is believed to be about $75 million.

Battle for users

As the battle for users intensifies in the social media world, Twitter Inc (NYSE:TWTR) is leaving no stone unturned to try and woo many users to its platform. The company has released a series of features aimed at increasing user engagement so that people can visit the site frequently and spend longer periods on it, which is good for its advertisement revenue agenda. Twitter boasts about 288 million monthly active users compared to Facebook Inc (NASDAQ:FB)’s nearly 1.4 billion.

Neha Gupta

Neha Gupta has been in the financial space for over six years now. Gupta earned her MBA degree from Symbiosis Centre of Distance Learning in 2009 and her passion for finance led her to pursue Chartered Financial Analyst (CFA) course. She has successfully completed Level II of her CFA. She is a veteran in article writing, which is depicted in her numerous pieces published on SeekingAlpha, Nextiphonenews, InsiderMonkey, MarketWatch, and Techinsider. Her crisp and eloquent writing finds its best place in Researchcows, where emphasis is given on developing rich content for various websites, products, business plans, trainings, and book writing.

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