According to an investor presentation given by owner Elon Musk and new Chief Executive Linda Yaccarino that was examined by Reuters, Twitter intends to rejuvenate the social media company’s business beyond digital advertising by focusing on video, creative, and commerce partnerships. This information was obtained from the presentation given by Musk and Yaccarino.
According to a source familiar with the situation who spoke on the condition of anonymity in order to discuss a private investor call, Yaccarino, who started as CEO on June 5, informed Twitter investors on Thursday that the company is in early conversations with political and entertainment figures, payments services, and news and media publishers on potential partnerships. Yaccarino took over as CEO on June 5.
It happened — first day in the books!
— Linda Yaccarino (@lindayacc) June 6, 2023
According to the insider, Yaccarino’s first time speaking directly to the company’s investors was during the presentation.
Following Musk’s acquisition of Twitter in October, the social media company was plunged into months of disarray, which included the firing of hundreds of workers, widespread condemnation of Twitter’s weak approach to the regulation of user-generated material, and the departure of a significant number of sponsors who did not want their advertisements to show alongside content that was deemed improper.
Musk’s decision to bring on Yaccarino, a veteran advertising executive who helped revolutionize ad sales at Comcast-owned entertainment and news giant NBCUniversal, was a clear indication that digital advertising will continue to be a focus for Twitter.
VIDEO AND COMMERCE
A slide from the presentation claims that Twitter has submitted applications for “money transmitter licenses” in each of the fifty states that make up the United claims.
Additionally, the corporation has been concentrating on expanding the amount of video content available on the platform. According to another slide, more than 10% of people’s time spent on Twitter is now being spent watching vertical videos.
Tucker Carlson, who once hosted a show on Fox News, debuted his new show on Twitter earlier this month under the name “Tucker on Twitter.”
According to the insider, Twitter is considering the possibility of selling advertisements and sponsorships alongside videos created by Carlson and other content providers.
According to the source, Yaccarino has shared with her coworkers in recent days that Musk has shown a great deal of support for her ideas, and that the two of them are off to a solid start in their professional relationship.