After the arrival of new CEO Linda Yaccarino, Twitter is more likely to focus on video, creator, and commerce partnerships. As per a Reuters report, Yaccarino told the company’s investors during a presentation about how they plan to revitalise the microblogging platform’s business which will not only focus on digital advertising but will go beyond it. They are already in contact with political and entertainment figures, different payment services, and media publishers for a potential partnership.
After Musk’s takeover of Twitter in October, the firm saw significant chaos in the name of “necessary” shakeups, including the layoff of thousands of employees, lax content moderation, and an exodus of many advertisers who didn’t want their ads next to inappropriate content.
Some firms that work as ad-buying agencies reportedly recommended that their clients pause their ad spend on Twitter due to the takeover. But now such recommendations have been cancelled and now no major advertising holding companies are focusing on pausing their ads on Twitter based on the presentation.
Some of the well-known brands like Warner Bros, Mondelez, McDonald’s, and Walmart have also removed the pause on Twitter, as per Reuters.
Yaccarino told the investors that ad spending has increased up to 40 per cent year-over-year, in several advertising categories like- financial services, consumer packaged goods, and health.
After Musk’s takeover, Twitter formally changed its name to X Corp, which reflects the billionaire entrepreneur’s vision for the formation of the “super app”, just like China’s WeChat, which he has mentioned will contain digital payments and another service.
Twitter video app for smart TVs is in one of the social media plans, tweeted Musk recently. It will be a shot for the company to focus on video content for the platform.
More than 10 per cent of users’ time spent on Twitter is mainly on vertical videos, as per Reuters. Former Fox News host Tucker Carlson also launched his show “Tucker on Twitter”, earlier this month. Twitter believes that it could sell ads and sponsorship alongside videos of Carlson and other creators, Reuters reported.