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Twitter Teams With Billboard to Tap Music Charts

Stocks in this article: TWTR FB

NEW YORK (TheStreet) -- Twitter (TWTR) is tapping the music charts in an attempt to woo more users, teaming with entertainment giant Billboard to track real-time data.

The two companies will create the Billboard Twitter Real-Time Chart, which will track the U.S. music conversation using Twitter data. Billboard, which is famous for compiling the Hot 100 chart, will host the new Twitter chart on its Web site.

Billboard and Twitter, using the handles @billboard and @TwitterMusic, will tweet regular updates as artists and tracks appear on the new chart. The two companies also have signed the Twitter Amplify partnership, which will distribute the charts widely on Twitter and include custom in-Tweet charts and a weekly in-Tweet video roundup.

"Our goal with these efforts is to give artists who share songs and engage with their audience on Twitter a way to get noticed by even more fans, other musicians and industry decision-makers in real time," wrote Bob Moczydlowsky, Twitter's head of music, in a blog post announcing the partnership.

Moczydlowsky added that Twitter will be sharing more information on the collaboration soon.

Billboard, in a statement on the company's Web site, said the multi-year agreement is exclusive and touted the company's tech credentials. "From the unveiling of the Social 50 artist chart in 2010, the expansion of song streaming data over the past few years, including Spotify and YouTube into the Hot 100, and the launch of streaming charts covering multiple genres, Billboard continues to be at the forefront in incorporating new technologies in its music rankings," it said.

Rumors that the micro-blogging site was planning a music announcement have swirled recently, with The Wall Street Journal reporting that Twitter could forge partnerships with streaming music companies.

These are busy times for Twitter. In a blog post late on Wednesday, the San Francisco firm 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.

Twitter's fourth-quarter results last month disappointed investors, particularly its lackluster user growth. The Web site ended the quarter with 54 million users in the U.S., just 1 million higher than the prior quarter. Twitter's monthly active users (MAUs) were 241 million, an increase of just 9 million from the third quarter.

Shares of Twitter gained 1.82% to reach $45.24 on Thursday.

-- Written by James Rogers in New York.

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