Social media platform, Twitter is set to prioritize video, creator collaborations, and commerce partnerships.
This is according to an investor presentation reviewed by Reuters and led by owner, Elon Musk and the newly appointed Chief Executive, Linda Yaccarino.
Yaccarino, who assumed the role of CEO on June 5, addressed Twitter investors on Thursday, revealing that the company is already engaging in preliminary discussions with political figures, entertainment personalities, payment services, and news publishers regarding potential partnerships.
A source familiar with the matter, speaking on the condition of anonymity, disclosed this information, highlighting that Yaccarino’s presentation marked her first official interaction with the company’s investors.
After Elon Musk’s acquisition of Twitter in October, the platform experienced a period of turbulence, including significant layoffs, criticism over content moderation practices, and the departure of numerous advertisers who were concerned about their ads being displayed alongside inappropriate content.
Musk’s decision to bring on board Linda Yaccarino, a seasoned advertising executive known for her transformative work at Comcast-owned NBCUniversal, demonstrated the ongoing importance of digital advertising for Twitter.
Initially, several ad-buying firms advised their clients to pause ad spending on Twitter following Musk’s takeover.
However, the latest presentation revealed that these recommendations have been reversed, with none of the major advertising holding companies currently suggesting a pause.
Prominent brands such as Warner Bros, Mondelez, McDonald’s, and Walmart have resumed advertising on the platform after their initial pauses, as indicated by the presentation.
During the investor call, Yaccarino shared that ad spending in various advertiser categories has experienced a minimum 40% year-over-year increase, including the health, consumer packaged goods, and financial services sectors.
When it comes to Twitter’s strategic direction under Musk’s leadership, the company has rebranded itself as X, aligning with the billionaire’s vision of developing a “super app” akin to China’s WeChat.
This ambitious concept encompasses digital payments and an array of other services.
Notably, Twitter has commenced the process of applying for “money transmitter licenses” in all 50 states of the United States, as revealed in one of the presentation slides.
Another significant area of focus for Twitter is video content. The platform has witnessed notable growth in vertical video consumption, which now accounts for over 10% of the time users spend on the site.
In an effort to leverage this trend, former Fox News host, Tucker Carlson recently launched a show called “Tucker on Twitter.”
Twitter envisions the potential to monetize Carlson’s videos and those of other content creators by selling ads and sponsorships alongside their content.
Regarding her rapport with Elon Musk, Yaccarino has expressed satisfaction, stating that Musk has shown strong support for her ideas and that their working relationship is off to a positive start, according to the same source.