Twitter, Inc. (NYSE: TWTR) announced that the social media company will start allowing streamers on its Periscope service to earn money. This is the first streaming service of its kind for the company as it hopes to compete against YouTube and other streaming sites.
In the announcement, Twitter plans to market virtual currency (in the form of a variety of digital hearts that people could send as a form of a donation to streamers and broadcasters on the Periscope service. The company also revealed that streamers who receive more than $175 in “super hearts” would be promoted to “super broadcasters”.
Although its initial launch only includes streamers in the United States, Twitter hope to expand this service globally. Periscope’s director of Engineering, Sara Haider, said, “The spirit and the goal is for all broadcasters to be able to do this.”
According to Reuters, Periscope launched in 2015 and broadcasted 77 million of live content to viewers in the first three months alone. Despite its appealing amount of views, competition is fierce as YouTube announced in February that the streaming service would allow users with more than 10,000 subscribers to live stream from mobile devices.
Twitter did not indicate any estimate of revenue this service would yield.