X, formerly known as Twitter, is gearing up to unveil a new TV app for Amazon and Samsung smart TVs next week, marking a significant move to position the platform as a major contender in the video streaming arena, rivalling YouTube.
The upcoming app, described by sources as bearing a striking resemblance to YouTube’s TV interface, is designed to entice users to consume “long videos on a bigger screen.” This initiative signifies X’s latest strategic shift towards becoming a “video-first platform,” under the leadership of its CEO, Musk.
In recent developments, X has actively pursued partnerships with prominent video creators and media personalities. Notably, the platform secured an exclusive deal with former CNN anchor Don Lemon for a forthcoming show. Additionally, renowned YouTuber MrBeast garnered substantial earnings, exceeding $250,000 from his initial video upload to X, although concerns have been raised about potentially inflated revenue figures.
However, X faces a formidable challenge in competing with YouTube’s extensive presence on smart TVs. As of January, YouTube commanded 8.6% of total TV viewing in the U.S., with nearly half of its domestic viewership accessing content via TVs in 2023.
According to sources close to the matter, Musk is resolute in his ambition to rival YouTube, with other platforms like Twitch, Signal, and Reddit also in his crosshairs as formidable competitors.
The critical question remains whether X’s strategy of attracting creators through lucrative monetization incentives will suffice to chip away at YouTube’s dominant position in premium long-form video content across various devices.
Beyond the realm of smart TVs, X has explored diversifying its offerings into video games, podcasts, and long-form written content, as part of its broader vision to evolve into an encompassing “everything app.”
Main Points of this News
- X (formerly Twitter) is launching a TV app for Amazon and Samsung smart TVs to compete with YouTube in the video streaming market.
- The app aims to encourage users to watch long videos on larger screens, marking X’s pivot towards becoming a “video-first platform.”
- X has been actively recruiting prominent video creators and media personalities, including securing an exclusive deal with former CNN anchor Don Lemon for a show.
- MrBeast, a popular YouTuber, earned over $250,000 from his first video uploaded to X, though concerns exist regarding potentially inflated revenue figures.
- Despite X’s efforts, it faces stiff competition from YouTube, which holds a significant share of total TV viewing in the U.S., particularly via smart TVs.
- CEO Musk is determined to challenge YouTube’s dominance, with aspirations to compete with other platforms like Twitch, Signal, and Reddit.
- The success of X’s strategy hinges on its ability to attract creators with lucrative monetization offers and establish itself as a viable alternative to YouTube.
- X is exploring expansion into video games, podcasts, and long-form writing as part of its broader vision to become an all-encompassing “everything app.”
