India’s favorite social network Twitter has ideas to focus its business on video, creator, and commerce partnerships. The diversification plan has come to ensure that the social media company is recognized beyond digital advertising. An investor presentation by Twitter owner Elon Musk and new Chief Executive Linda Yaccarino was reviewed by a media portal.
Elon Musk has made an announcement that Twitter is working on a video app for Smart TVs. The app will assist users to watch Twitter videos on their television sets and also find out new videos. Musk made the announcement through a tweet on 18 June 2023 wherein he mentioned that the app is in the works and it will be available on a few TVs. However, he didn’t reveal any further details about the new app.
On June 5, 2023, the company was joined by Yaccarino was the new CEO with Musk wanting to focus on other areas of the business. Yaccarino told investors of the company how it is in early talks with prominent entertainment and political leaders, payment services, and news and media publishers for developing possible partnerships and associations, says a report. The source also mentioned in the report how this was Yaccarino’s presentation done for the first time with the company’s investors.
In October last year, Musk acquired Twitter and thereafter, there was a lot of chaos in the social media firm. There were layoffs of thousands of people, loose content moderation was heavily criticized by the users and several advertisers complained of how they didn’t want their advertisements to appear next to inappropriate content.
Musk had hired Yaccarino who had a diverse experience in the advertising field and he wanted her to ensure that digital advertisements were a priority for the company. After Musk’s takeover, many ad-buying companies suggested their clients stop their ad spending on Twitter. Musk wanted to ensure that such criticism against his company gets removed and the situation gets reversed with more advertisers wanting to spend their budgets on Twitter.
Yaccarino’s presentation showed how famous companies like Warner Bros, Mondelez, McDonald’s, and Walmart have started advertising back on Twitter after initial-level pauses. However, an executive from Twitter has declined to comment on the news and confirm the same.
The video app’s announcement also is a sign that Musk is willing to make Twitter a more video-centered platform. It will really give tough competition to companies like YouTube, and Instagram that has been famous for video uploading and watching. The video app for Smart TVs by Twitter will allow people to enjoy a vibrant and engaging platform.
Musk also believes how the video is the future of social media and he wants to ensure that Twitter leads in this trend. He also wants to attract more creators to the platform by adding such new features. He also has plans to compensate creators for advertisements featured in their replies, with a payout block of $5 million and he confirmed the same in a media announcement.