Elon Musk's X Set To Launch Smart TV App Identical To YouTube Next Week: Reports
Elon Musk's X is poised to enter the smart TV app arena, directly challenging YouTube TV by launching a similar application, potentially as early as next week. This initiative is part of Musk's vision to transform X into an "Everything App," aiming to enhance user engagement by encouraging the consumption of long videos on larger screens. This strategy was detailed in a report by Fortune, which relied on information from anonymous sources close to the development.
Strategic Moves to Boost Content Consumption
Musk's ambition to rival YouTube is evident in his actions to attract longer-form content to X. Notably, he has engaged popular YouTuber MrBeast, known off-screen as Jimmy Donaldson, to showcase the financial incentives available for content creators on X. Donaldson's recent 20-minute video on the platform, featuring a test drive of cars worth over $250 million, generated an impressive $263,655 from nearly 160 million views and over 5 million interactions, such as likes and comments. Additionally, Musk has secured a partnership with former CNN anchor Don Lemon for an exclusive show on X, set to premiere on March 18.
The upcoming app aims to offer an experience "identical" to YouTube TV, which currently provides access to over 70 networks and an extensive on-demand library of movies and TV shows. Since its launch in 2017, YouTube TV has attracted more than 8 million subscribers, with subscription fees reaching up to $72.99 monthly. X's entry into this space signifies a major shift from its original text-based focus, now promoting itself as a "video-first platform." This was highlighted in a recent blog post by X, which revealed that video content is viewed in eight out of ten user sessions.
Following the launch of the TV app, Musk has expressed intentions to expand X's offerings further, setting sights on competing with other digital services such as Twitch, Signal, and Reddit. Moreover, Musk is steering the company towards financial services, with plans to introduce a payments processing mechanism by October 2024. This ambitious move aims to incorporate comprehensive financial services on the platform, potentially eliminating the need for traditional bank accounts. Musk envisions X evolving into a super-app, akin to China's WeChat, offering a blend of instant messaging, social media, mobile payments, and more.
Amid these developments, Musk's overarching goal remains to make X the cornerstone of digital interaction and financial transactions. However, when approached for comment, X's press team responded with a placeholder message, reflecting the ongoing busyness as the company navigates these significant expansions.
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