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Twitter, the State Bank of India (SBI) and CNBC-TV18 have joined forces to bring live updates of Union Budget 2017 on the microblogging site, in what is a first-of-its-kind Twitter Amplify deal in the news category in the Asia-Pacific region. The real-time content updates, including exclusive features, will be provided by CNBC TV-18, while SBI will sponsor the feeds. The Union Budget will be presented by Finance Minister Arun Jaitley on Wednesday, February 1.
The partnership will provide Budget 2017 updates in three phases, all of which will be shared on CNBC-TV18’s twitter handle @CNBCTV18News. On pre-budget day, Budget expectations will be shared. On Budget Day, Jaitley’s speech will be live streamed on Twitter via Periscope Producer with short clips being separately tweeted out. The key highlights as well as first reactions from experts and industry stalwarts will also be tweeted. Finally, post the Budget announcement, detailed analyses of the Budget and its impact on various sectors, as well as tax implications for consumers, will be tweeted by way of specially produced industry reaction videos.
Amplify is Twitter’s video ad offering, that brings together content publishers and advertisers and enables the social media giant to monetise its platform. Increasingly, people are using Twitter for live breaking news, noted Viral Jani, Twitter India’s head of TV and entertainment partnerships, in a statement. Most audiences now consume content on both television and Twitter simultaneously which allows them to discuss television in the social space, as well as share their reactions to key moments with friends and followers.
“Content consumption in India is undergoing a radical shift beyond traditional media formats. We are now entering an era where all screens seem to work seamlessly regardless of their size. As a news broadcaster, we realise now is an opportunity for us to create, distribute and innovate with new content formats to tap this digital-first audience,” explained Avinash Kaul, managing director, A+E Networks | TV18 and president of strategy, product & alliance, Network 18, in a statement.
SBI, too, hopes to benefit from the partnership by connecting real-time with Indian citizens on business and financial issues that impact them. “We believe this [partnership] will kickstart a meaningful dialogue with the BFSI community and contribute towards fulfilling the mission of Digital India,” said Mrutyunjay Mahapatra, deputy managing director and chief information officer, SBI. (Disclaimer: CNBC-TV18 is a part of Network 18, the publisher of Forbes India)