The company feels shutting down Periscope as a separate service will also allow it to better focus on further building the live streaming function.
Twitter will continue to offer the live video streaming via its integrated Twitter Live feature present in the main Twitter app though.
Twitter mentions that the feature will eventually roll out to live options inside the Twitter app.
Twitter has also launched an audio-only broadcasting feature so your followers can hear, but not see you.
The features are currently available only on iOS and to a small number of users.
Twitter to remove suspicious accounts which repeatedly post abusive comments on livestreams.
Periscope’s Chief Executive Officer Kayvon Beykpour will be Twitter's new product head.
People watching Periscope will be able to send a gratuity to online performers and broadcasters they like, using a variety of heart shapes that they can purchase as a form of virtual currency, the company said.
Twitter report reveals 55 percent increase in requests for account information by the Indian government
Twitter, however, did not remove any account or withhold any tweet as requested by the government, police or court.
Periscope and Facebook Live some of the much-promised mediums of viewing for these upcoming generation, Fulgoni believes is more dependant on the length of the viewing period of an episode.
Twitter Inc plans on Wednesday to launch a system for people to earn money by streaming live on its Periscope service, a first for Twitter and a way for the company to try to compete with YouTube and others in the search for internet talent.
Increasing instances of such livestreaming have led to a number of questions, particularly on who is responsible for the upload of such content
As video viewership on Twitter continues to grow, the mirco-blogging website introduced pre-roll ads on its live video streaming app Periscope.
According to a Facebook blog post on Wednesday, Facebook live on desktops was earlier available for pages only, but now the status update composer will feature a Live button also.
For creators, this is a new way to engage with fans, and Google plans to eventually roll out the feature to everyone using YouTube.
In a statement, Periscope said on Tuesday that the recent executive order to halt immigration from seven countries in the Middle East and Africa forced them to consider a disturbing alternate reality in which the Periscope team is irreparably changed.
Twitter has announced that it is going to replace the Moments tab with a new Explore tab, that contains Moments, live video and trending topics.
Twitter has announced that it will now allow its users to go live straight from the Twitter app rather than restrict them to the Periscope app.
In a clear message to US President-elect Donald Trump, the famed National Security Agency (NSA) whistleblower Edward Snowden has said that government surveillance programmes will create "vulnerabilities" for social media users.
Snowden showed disappointment in the fact that some news sources did not care about the truth anymore.