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Screenshot of TicToc's homepage on Bloomberg.

Bloomberg's TicToc, the 24/7 news network on Twitter, is launching an owned and operated digital video platform today, Axios has learned.

Why it matters: While Twitter is still core to TicToc, the launch serves as a big step for the venture to develop its own brand outside of the social platform.

Details: The new site, at www.TicToc.video, will be designed to function almost like a Spotify for news video. It's mobile-first and includes a feed-like interface that feels like a mobile app.

  • The videos, less than 1 minute each, can be experienced with or without sound and will use a variety of formats (like data, text and images) to tell news stories in a way that's compelling and efficient for a mobile news consumer who wants to be able to quickly scan videos for relevant information.
  • It's hoping that the next generation of news consumers that are drawn to its pithy format will discover its original content beyond their social feed directly on TicToc's site, now that it's developed some brand recognition.

The big picture: Brands that launched on social media are shifting to new platforms or channels offering a wider audience and an opportunity to experiment with new forms of monetization.

  • NBC expanded its Snapchat show "Stay Tuned" to Instagram and YouTube, last year. The show will air twice daily on Instagram Stories shortly after they post to Snapchat.
  • NowThis, which was born as a social media publisher mostly through Facebook, relaunched its website in 2018, after shuttering it in 2015 to go all-in on social platforms directly.
  • Vertical Networks, Elisabeth Murdoch's digital media company, started out producing shows for social media companies, like Snapchat and Facebook, before expanding to production for TV shows and books.

Our thought bubble: For some media brands born on social, audio or video platforms, standalone websites aren't always considered the primary point of monetization (like The Ringer). Instead, they've essentially become marketing vehicles.

Go deeper: Bloomberg expects eight figures for new Twitter network

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus cases rose 10% in the week before Thanksgiving.
  2. Politics: Supreme Court backs religious groups on New York coronavirus restrictions.
  3. World: Expert says COVID vaccine likely won't be available in Africa until Q2 of 2021 — Europeans extend lockdowns.
  4. Economy: The winners and losers of the COVID holiday season.
  5. Education: National standardized tests delayed until 2022.
4 hours ago - Health

Standardized testing becomes another pandemic victim

Photo: Edmund D. Fountain for The Washington Post via Getty

National standardized reading and math tests have been pushed from next year to 2022, the National Center for Education Statistics (NCES) announced Wednesday.

Why it matters: There’s mounting national evidence that students are suffering major setbacks this year, with a surge in the number of failing grades.

4 hours ago - World

European countries extend lockdowns

A medical worker takes a COVID-19 throat swab sample at the Berlin-Brandenburg Airport. Photo by Maja Hitij via Getty

Recent spikes in COVID-19 infections across Europe have led authorities to extend restrictions ahead of the holiday season.

Why it matters: "Relaxing too fast and too much is a risk for a third wave after Christmas," said European Commission President Ursula von der Leyen.