The popular social media platform, Twitter, is charting a new course. Its owner, the tech mogul Elon Muskhas confirmed through a tweet that a video application is being developed for smart TVs. This effort is part of a broader company strategy to focus on video content and partnerships with creators and commerce.
Focus on Video Content
Twitter is preparing for a massive transformation. The new strategy, presented by the CEO Linda Yaccarino and Musk in a presentation to investors, implies a renewed focus on the video content. According to the data presented, vertical videos account for more than 10% of the time users spend on the platform. Twitter sees in the video a potential to attract more users and increase its advertiser base.
New Alliances and Content Creation
Twitter’s strategy also includes establishing alliances with creators and shops. A recent example is the case of Tucker Carlson, a former Fox News host, who launched a new show on the platform. Twitter hopes to sell ads and endorsements alongside videos from Carlson and other content creators.
Additionally, Yaccarino has indicated that preliminary talks are underway with political and entertainment personalities, payment services, and news and media publishers to explore potential partnerships. This effort shows Twitter’s interest in diversifying its business model beyond digital advertising.
Ad Spend Growth
Twitter is not only reinventing itself in terms of content and partnerships, but it’s also seeing a substantial growth in ad spend. According to Yaccarino, ad spending has increased by at least 40% year-over-year in several categories, including healthcare, consumer packaged goods and financial services.
This strategic change at Twitter signals the evolution of the platform, which seeks to be more than a microblogging network. Twitter is doing all it can to transform itself into a hub for multimedia content, leapfrogging from short tweets to videos and content creation. It’s not just a change in the platform, it’s an evolution that reflects the new ways we consume media in the digital world.
