After the revenue slump
Twitter’s new boss wants to fight for advertisers
06/29/2023, 05:25 am
With his erratic management style, after the Twitter takeover, Elon Musk not only drove users away, but also advertisers. The new boss of the platform, Linda Yaccarino, wants to bring her back – among other things with more staff.
According to a newspaper report, the new Twitter boss Linda Yaccarino is planning a series of measures to win back the advertisers who left under Elon Musk. This includes the introduction of a video advertising service, increased cooperation with celebrities and an increase in employees, writes the “Financial Times”.
Users should therefore see full-screen ads with sound when scrolling through a new short video feed, the paper reports, citing several insiders. Twitter is also in talks for a comprehensive partnership with Google that would include advertising and access to some Twitter data. Existing contracts with technology companies such as Amazon, Salesforce and IBM are to be expanded into broader partnerships.
Twitter has not yet responded to a request for comment. After buying Twitter, Musk quickly turned the social media platform inside out. The previous management was immediately kicked out, followed by several mass layoffs, most of which were announced at short notice. According to Musk, at the end of January there were still 2,300 of the previous 7,500 employees. In search of a viable business model and with the ambition to enable the greatest possible freedom of speech, Musk’s decisions seemed erratic. This not only drove users away. Advertisers were concerned that their ads might appear alongside inappropriate content and are suspending their advertising as a result. According to Musk, revenue fell by 50 percent.
The 60-year-old Yaccarino has decades of experience as an advertising manager and most recently managed the advertising business of the media group NBC Universal. She took over the operational management of Twitter at the beginning of June, and Musk remains the chairman of the board.