The latest example of how important it's become is a new television show based around Twitter trending music topics called "Trending 10." The new show will be shown on the Fuse cable music channel and be sponsored by Trident gum. It's scheduled to air weekdays at 4:30PM.
The idea of the show is to feature the top 10 music-related Twitter topics of the day, which is determined by Fuse's "heat tracker" algorithm, and look at which musicians are the most discussed. The show will also feature interviews and articles, but everything will be based on the latest music trends on Twitter.
It's unclear if Twitter actually has a part in the show, but it does show that at least one channel thinks it's significant enough to build a show around it. I'd say that's a pretty good indication of influence. More on Trending 10 on the Fuse website.
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