Elon Musk, the CEO of social media platform X, has announced plans to launch a TV app next week for users of Amazon and Samsung, allowing them to access long-form videos.
Last October, X introduced an initial version of video and audio calling features for select users. Musk revealed intentions to expand the platform into a comprehensive app offering various services ranging from messaging to peer-to-peer payments, as reported by Reuters.
Responding to a user’s post suggesting the direct viewing of long-form videos on smart TVs via the platform, Musk hinted at the imminent launch of the TV app by stating, “Coming soon.”
According to Reuters, a Fortune report speculated that the app’s interface may resemble Google’s YouTube TV app. The report cited an anonymous source indicating Musk’s ambition to compete directly with YouTube.
X has been actively pursuing partnerships with prominent figures such as former Fox commentator Tucker Carlson and former CNN anchor Don Lemon, aiming to establish itself as a ‘video-first platform.’
Since Musk’s acquisition of X in 2022, the platform has encountered challenges retaining advertisers amidst controversies.
In another development, Musk mentioned that X is on track to obtain approval for a money transmitter license in New York. Additionally, approval for a license in California is anticipated within the next month, with New York approval expected to follow, albeit requiring a few more months, as reported by Reuters.
Musk aims to transform X into an “everything app” akin to Tencent’s WeChat in China, offering functionalities beyond social media, including peer-to-peer transactions among X users.
To operate nationwide, X must secure a money transmitter license in each state, with approvals in populous states like New York and California holding particular significance due to their extended approval processes. Some states, including Pennsylvania and Utah, have already granted money transmitter licenses to X.
