The company is staffing TicToc with a dedicated team of about 50 reporters, editors, producers and social-media analysts, overseen by M. Scott Havens, Bloomberg’s global head of digital, and Mindy Massucci, who is the editorial lead of TicToc by Bloomberg. The news org touts it as the world’s first “social news network”: combining Twitter’s global reach and user-generated commentary with the pedigree of Bloomberg’s news-reporting expertise.
The network will be available on Twitter at @tictoc (twitter.com/tictoc). TicToc will feature a mix of breaking news content culled from Twitter — curated and verified by Bloomberg — and Bloomberg’s own live video reporting. It’s a completely separate product from Bloomberg Television, according to the New York-based company.
Bloomberg Media has landed six initial sponsors for TicToc: AT&T, CA Technologies, CME Group, Goldman Sachs, Infiniti, and TD Ameritrade. Each is paying between $1.5 million-$3 million as presenting partners, according a report by Axios.
Bloomberg reps declined to provide details of specific programming on TicToc or about the talent and anchors hired for the network.
“In an era when most viewers are choosing immediacy over quality in breaking news, traditional media hasn’t kept up,” Bloomberg Media CEO Justin Smith said in May when it announced the partnership with Twitter for the 24-hour news network (a statement that sounded like a mea culpa). “With this new network, we are setting out to reinvent the digital breaking-news experience.”
TicToc is a reference to a “tick-tock” story: journalism jargon for a piece that provides a play-by-play chronology of a deal or event (no relation to Ke$ha’s 2010 dance hit “TiK ToK”). According to Bloomberg, TicToc “conveys the ethos of the product — that it is timely, accurate, relevant, concise and factual.”
For Twitter, TicToc by Bloomberg will be the first 24-hour live network exclusively available on the social platform. Live video has been a big push for Twitter. In Q3 the company announced around 30 new live-streaming partnerships, after previous deals with partners including Major League Baseball, the NFL, Viacom, the WNBA, Live Nation, the PGA, IMG Fashion, and BuzzFeed, which produces the hour-long “AM to DM” morning talk show on Twitter airing weekdays at 10 a.m. ET.
Bloomberg also released a teaser video promoting TicToc’s coming launch: