Twitter is expanding its live broadcasting services and has partnered with Bloomberg to create a 24/7 video news channel. The new breaking news network will be launched in the autumn of 2017.

The social media giant has also boosted its portfolio with 12 new services, including WNBA games, a morning current events and news show aimed at millenials, in partnership with Buzzfeed, called Morning Feed, a gadgets show called Circuit Breaker from tech news site, The Verge and a partnership with Live Nation that will see live concerts streamed on the social media platform.

"The stage is set for innovation in news and Bloomberg is taking on that challenge. Twitter's speed and vast global network of content and commentary combined with the high quality, editorial rigor of Bloomberg is a unique and powerful combination. Our collaboration will bring these forces together through live video and the related conversation," said Anthony Noto, COO of Twitter.

"Adding these 12 new live deals tonight is a testament to the success of our only-on-Twitter experience, combining high quality streaming video with our only-on-Twitter conversation," Noto added, Reuters reported.

The social media giant's shares jumped over 6% on Monday (1 May) after news of the firm's partnership with Bloomberg broke out.

The move builds on Twitter's recent efforts to boost its live video streaming services. The social media giant broadcast around 800 hours of live video in the first three months of 2017, BBC reported.

The social media giant is also keen on its platform being used by world leaders, not unlike how US President Donald Trump often makes use of it. "We'd love it if every world leader used Twitter as their primary mechanism to talk to their constituencies," Noto told Bloomberg. "The more that happens, the better we are going to be at showing what's going on in the world."