Elon Musk, the owner of Twitter, and Linda Yaccarino, the company’s recently appointed Chief Executive, discussed the company’s plan to prioritise video, creator, and commerce partnerships in an investor presentation that was seen by Reuters. This approach is part of the company’s attempts to rejuvenate the business of the social media platform.
On Thursday, Yaccarino, who became CEO of Twitter on June 5, addressed the company’s investors and said that preliminary talks are now being held with political and entertainment personalities, payment providers, and producers of news and media content about future collaborations. Yaccarino took over as CEO of Twitter on June 5. The information was obtained during a private investor call, as disclosed by a person with knowledge of the situation who spoke on the condition that they remain anonymous.
This presentation served as Yaccarino’s very first encounter with the company’s investors, and it served as a signal of her dedication to guiding Twitter on a new path.
Since Musk’s purchase of Twitter in October, the social media platform has been going through a time of upheaval, which has included layoffs, criticism over content moderation practises, and the withdrawal of several sponsors who were worried about brand safety. The hire of Yaccarino by Musk, a seasoned advertising executive who was responsible for transforming ad sales at NBCUniversal (which is owned by Comcast), highlighted the significance of digital advertisements for the future of Twitter.
After Musk’s acquisition of Twitter, a number of ad-buying companies had already counselled their customers to halt spending on Twitter advertisements. On the other hand, during the presentation to the investors, one of the slides revealed that this advice had been changed and that big advertising holding corporations no longer advised pausing the campaign. According to the slide, well-known companies including Warner Bros., Mondelez, McDonald’s, and Walmart have restarted their advertising campaigns on Twitter after instituting brief hiatuses in such efforts.
Yaccarino also disclosed some encouraging information to the investors, informing them that advertising expenditures in a number of advertiser categories had climbed by at least forty percent year-over-year. According to the source, the areas of consumer packaged goods, health care, and financial services have all seen notable expansion.
Under Musk’s leadership, Twitter changed its name to X to represent his intention to develop a “super app” comparable to China’s WeChat, which would combine digital payments and other services. This goal was reflected in Musk’s decision to rename Twitter. According to one of the slides from the presentation, as part of this ambition, Twitter is now in the process of applying for “money transmitter licences” in each of the fifty states that make up the United States.
In addition, Twitter has been working hard to expand the amount of video content available on its platform. During the presentation, it was brought to everyone’s attention that vertical videos now make up more than 10 percent of the total time spent on Twitter. Tucker Carlson, who once had a programme on Fox News, has lately debuted a new show on Twitter called “Tucker on Twitter.” This is an important development. According to the information provided by the source, the corporation is considering the potential of selling advertisements and sponsorships alongside films produced by Carlson and other content providers.
In recent days, Yaccarino has voiced her contentment with the help that she has gotten from Musk, who has shown excitement for her ideas. She has said that she is grateful for Musk’s assistance. According to the insider, this fruitful working relationship bodes well for the future of Twitter under Yaccarino’s leadership.
Users and investors are eagerly awaiting the platform’s transition, keen to see how these efforts will influence the future of social media behemoth Twitter. As Twitter makes serious moves to leverage strategic relationships and extend its products, the platform is expected to undergo a metamorphosis.
