by Christopher Freeburn | March 27, 2014 12:06 pm
Sources tell the Wall Street Journal that Twitter (TWTR) is planning to refocus its music strategy away from a standalone app and toward content accessed and discussed on the social messaging service itself.
TWTR is negotiating with Sony’s (SNE) Sony Music Entertainment and Vivendi’s Universal Music Group’s to provide short music video clips to users. It has also discussed a possible partnerships with Beats Music and SoundCloud.
A number of prominent musicians — including Justin Bieber, Katy Perry and Lady Gaga — already use TWTR to promote new projects to fans.
In April 2013, TWTR unveiled a music app for Apple’s (AAPL) iOS, which offered music clips in partnership with Spotify, Rdio and iTunes, but the app failed to gain traction with users and last week TWTR pulled withdrew it from the App Store.
Earlier this week, Twitter announced that it would fight Turkey’s ban on its social messaging service in Turkish courts.
TWTR stock climbed more than 2% in Thursday morning trading.
Source URL: http://investorplace.com/2014/03/twtr-twitter-changes-tune-music-strategy/
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