Twitter unveils strategic plan to reinvent business: Video, creator, and commerce partnerships take center stage

Twitter unveils strategic plan to reinvent business: Video, creator, and commerce partnerships take center stage

Twitter intends to rejuvenate its business beyond digital advertising by prioritizing video, creator collaborations, and commerce partnerships, as outlined in an investor presentation by CEO Linda Yaccarino and owner Elon Musk, as reported by Reuters.

Reuters reported that during a private investor call, an anonymous source revealed that Twitter’s CEO, Linda Yaccarino, who assumed the position on June 5, informed investors about the company’s preliminary discussions with political and entertainment personalities, payments services, as well as news and media publishers. 

According to a slide presented during the investor presentation, none of the prominent advertising holding companies are advising their clients to suspend ad expenditures on Twitter.

Moreover, renowned brands such as Warner Bros, Mondelez, McDonald’s, and Walmart have recommenced their advertising activities on the platform after initially pausing them.

Reportedly, following Elon Musk’s acquisition of Twitter in October, numerous advertisers departed from the platform due to concerns that their advertisements might be displayed alongside unsuitable content. This apprehension arose following the company’s substantial layoffs and significant cost-cutting measures.

The appointment of Linda Yaccarino by Elon Musk, who has an extensive background in advertising and previously served as the head of ad sales at NBCUniversal, was perceived as an indication that Twitter continues to prioritize digital advertising.

Meanwhile, Twitter is regarded as the most deficient among all major social media platforms when it comes to safeguarding LGBTQ users, particularly those who identify as transgender, non-binary, or gender non-conforming, according to GLAAD, an advocacy organization. The group stated that all of these platforms struggle to effectively counter hate speech and harassment, but Twitter fares the worst.

GLAAD’s annual Social Media Safety Index assessed major platforms including Facebook, Instagram, TikTok, YouTube, and Twitter and found that these platforms are not adequately ensuring user safety. While most of the platforms showed improvement compared to the previous year, there was one notable exception—Twitter. 

The advocacy group’s evaluation labeled Twitter as “the most hazardous platform for LGBTQ individuals,” and it was the only platform that experienced a decline in its scores compared to the previous year. It is worth mentioning that Twitter was acquired by Tesla CEO Elon Musk in October last year.

(Win inputs from Reuters)



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Updated: 17 Jun 2023, 04:34 PM IST

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Author: Shirley