With Elon Musk’s takeover of Twitter and the arrival of new CEO Linda Yaccarino, Twitter experienced a flurry of changes in its operations and administration. The tech titan is now focusing on video, creative, and commerce relationships. This comes as the platform attempts to expand beyond digital advertising. Reuters found this new step when reviewing Musk and Yaccarino’s investor presentation.
Yaccarino, who took over as CEO of Twitter on June 5, informed investors on Thursday that the company is in preliminary talks about potential partnerships with political and entertainment figures, payment services, and news and media publishers.
Musk’s acquisition of Twitter last year was followed by months of turmoil for the social media firm, including hundreds of layoffs, criticism for sloppy content moderation, and a large exodus of sponsors who did not want their ads to appear next to harmful content.
By recruiting Yaccarino, a seasoned advertising executive who revolutionised ad sales at Comcast-owned entertainment and news business NBCUniversal, Twitter demonstrated that digital ads remain a priority.
Following Musk’s takeover, various ad firms recommended their clients to halt Twitter advertising. According to a graphic shown during the presentation, those recommendations have been reversed, and none of the major advertising holding firms are now advocating a suspension.
According to the slide, after brief hiatuses, well-known brands such as Warner Bros., Mondelez, McDonald’s, and Walmart have resumed Twitter advertising.
Yaccarino told investors that advertising spending in a variety of advertiser industries, including health, consumer packaged goods, and financial services, is currently increasing by at least 40% year over year.
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