Twitter Shares Rise on Photo News, Music Rumor
NEW YORK (TheStreet) -- Twitter (TWTR) shares rose in premarket trading on Thursday, lifted by the company's announcement of expanded photo options and media reports that the micro-blogging site will launch a new music strategy.
Shares of Twitter gained 0.83% to $44.80 before market open.
In a blog post late Wednesday, Twitter said that it wants to make photo sharing easier to connect to friends. Taking a leaf from Facebook's
(FB) book, Twitter is offering the ability to tag up to 10 people in a photo. The micro-blogging site is also expanding the number of photos that can be placed in a tweet from one to four.
"The ability to upload multiple photos is starting to roll out today on iPhone, and is coming soon to Android and twitter.com," wrote Twitter Software Engineer Cesar Puerta, in the blog post. "Whether you're on iPhone, Android or twitter.com, you can view Tweets with multiple photos."
Puerta also described the new tagging feature as a way to make conversations around photos "fun and easy." Tagging, he added, doesn't affect the character count in the Tweet, so even if 10 people are tagged, a user will still have 140 characters at his or her disposal.While the company's photo efforts have been grabbing the headlines, media reports are also swirling around its music strategy. The Wall Street Journal reported on Wednesday that the San Francisco-based firm, which recently pulled its music app from Apple's (AAPL) iTunes store, will introduce a new music strategy this week. After ditching the idea of a separate app, Twitter will instead incorporate content into its service, according to the Journal, which could involve new partnerships with music streaming companies. This is busy time for Twitter. The company is on a mission to add new users and make the site easier to understand. Earlier this month, for example, Twitter introduced a tool that lets people discover their first tweet. On the conference call last month to discuss Twitter's fourth-quarter earnings, CEO Dick Costolo said that some users have had a hard time figuring out the service. Over 1 billion people had tried Twitter and stopped using it, he added.
"For users, we will continue to make the product easier to use and introduce new capabilities that we believe will preserve the experience that core users love while making it easier for new users to understand the product and experience the unique content on our platform right away," Costolo said on the call. Twitter has not yet responded to TheStreet's request for comment on this story. -- Written by James Rogers in New York. Follow @jamesjrogers >Contact by Email.