Business Revamp: Twitter to focus on video & commerce partnerships
Twitter’s Business Revamp: Twitter has some major plans to revitalize the company's business beyond digital advertising.
According to the recent presentation discussed between Elon Musk and new Chief Executive Linda Yaccarino, Twitter is likely to focus on video, creator and commerce partnerships, sources reported.
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Recently appointed Yaccarino, who became the company's new CEO on June 5, recently told Twitter investors that the company is in early conversations with political and entertainment figures, payments services and news and media publishers, said a source familiar with the matter, who spoke on condition of anonymity to discuss a private investor call.
The presentation marks Yaccarino's first meeting with the company's investors.
Some ad-buying firms had recommended their clients pause ad spending on Twitter after Musk's takeover. Those recommendations have been reversed and none of the major advertising holding companies are currently recommending a pause, according to a slide shown during the presentation.
Under Musk, Twitter changed its business name to X Corp., reflecting the billionaire's vision to create a "super app," like China's WeChat, that he has said would include digital payments and other services.
The company also focused on growing video content on the platform. Vertical video now accounts for more than 10 per cent of time spent on Twitter.
- ANI
