NEW YORK (TheStreet) -- Twitter (TWTR) is set to launch a new feature this year called Project Lighting that will bring event-based curated content from across Twitter to make users feel like they are directly experiencing an event, according to a report from BuzzFeed News.
But the new project might also solve a problem that has plagued the company for some time: It could help Twitter finally expand its user base.
The company currently has 302 million monthly active users, but Wall Street analysts have repeatedly bemoaned Twitter's inability to expand its user base. Logged-out users alone account for nearly 500 million monthly visitors on the social networking site, and Twitter has struggled to monetize this base.
Twitter could not be immediately reached for comment for this story.
The event feed created under Project Lighting, which will curate photo and video content from across Twitter, Periscope and Vine, can be accessed not only on the company's mobile app and Web site but also any site across the Web that has embedded the feed, according to BuzzFeed News. So no matter if a user is logged into Twitter or not, he or she can still see the content.
"It's not just logged-in Twitter, it's logged-out, and it's syndicated on other Web sites and mobile apps," Kevin Weil, who runs product at Twitter, told BuzzFeed News. "This reaches all of them. The collections are a core part of our logged-in experience - that's the point of being in the center tab. But you can easily imagine them as logged-out experiences telling about something happening now out in the world."
Even though Project Lighting is not set for release anytime soon, it could be big for the company, which has been stumbling since announcing the departure of CEO Dick Costolo. Shares of Twitter are down 2.5% since the June 11 announcement, but shares jumped 0.8% on the news of Project Lighting.
Project Lighting will take photos and videos surrounding an event, like the Oscars or Nepalese earthquake, and funnel them into one feed. The company said the feature will help create an immersive experience for users so they can feel as if they too are at the event. Event feeds can also be blended into users' timelines, so they can access content from others that they do not actively follow.
The company told the news organization it plans on posting seven to 10 event feeds a day.