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 Billboard.com 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.