Twitter plans to launch a video app

Twitter plans to launch a video app for smart TVs, as per a recent tweet by Twitter owner Elon Musk. This plan falls in line with the social media giant's new plans to focus more on video content.

As reported by Reuters, new CEO Linda Yaccarino and Musk had an investor presentation on June 15, where the company discussed their plans to focus on video, creator and commerce partnerships. These plans, as per the report, aim to revitalise Twitter's business beyond digital advertising.

The report also adds that according to a slide of the presentation, vertical video accounted for more than 10% of time spent on Twitter. In the presentation, Yaccarino also told Twitter investors that the company is further planning to potentially partner with political and entertainment figures, as well as news and media publishers, to further boost business.