According to an investor presentation, Twitter owner Elon Musk and new Chief Executive Linda Yaccarino have outlined plans to revitalize the social media company’s business beyond digital advertising.
The focus will be on video, creator partnerships, and commerce. Yaccarino, who assumed the role of CEO on June 5, informed Twitter investors that the company is engaging in early discussions with political and entertainment figures, payments services, as well as news and media publishers for potential partnerships. The presentation marked Yaccarino’s first opportunity to address the company’s investors.
Following Elon Musk’s acquisition of Twitter in October, the social media platform encountered a tumultuous period characterized by various challenges. These challenges included significant layoffs, criticism regarding inadequate content moderation, and the departure of numerous advertisers who were concerned about their advertisements being displayed alongside inappropriate content.
Elon Musk’s decision to appoint Linda Yaccarino as CEO of Twitter indicated that digital advertising continued to be a significant focus for the company. Yaccarino, known for her successful transformation of ad sales at NBCUniversal, brought her expertise in modernizing advertising strategies to Twitter.
Initially, after Musk’s acquisition of Twitter, certain ad-buying firms advised their clients to halt their advertising spending on the platform. However, during the investor presentation, it was revealed that these recommendations had been reversed. The presentation highlighted that none of the major advertising holding companies were currently suggesting a pause in ad spending on Twitter, as indicated by a slide shown during the presentation.
According to the slide shown during the investor presentation, prominent brands such as Warner Bros, Mondelez, McDonald’s, and Walmart have resumed their advertising activities on Twitter following the initial pauses. The slide indicated that ad spending from various advertiser categories, including health, consumer packaged goods, and financial services, has experienced a year-over-year increase of at least 40%, as disclosed by Yaccarino to the investors. A Twitter executive declined to provide any comment on the matter.
