Why Twitter Is Actually a Media Company - WSJ

Later in the article: "If investors come to view Twitter purely as a media company, its stock price could be cut in half."

"If you are among the 73% of American adults who don’t log in to Twitter at least once a month, you can be forgiven for viewing it primarily as a place where presidential candidates launch broadsides and celebrities embarrass themselves.

Twitter Inc.’s long struggle to define itself goes hand in hand with its recent inability to grow beyond its active but hard to grasp subcommunities. The mix of content, curation, humor, self-promotion and invective confounds its product teams, leaders and investors.

So let’s define Twitter once and for all. Twitter is a media company that happens to be based in San Francisco, and it should be structured, led and valued as such. Twitter is no longer a technology-driven hypergrowth unicorn. Twitter has, in a way, admitted as much. Last week, in a memo to Twitter staff, Chief Executive Jack Dorsey called the service the “People’s News Network.”"

Why Twitter Is Actually a Media Company - WSJ