Twitter just shared plans to revamp its business at a private investor's presentation.
Both Elon and new CEO Linda Yaccarino attended.
Here are 3 ways that Twitter will change:
1/ Invest in video + creators
Vertical video now makes up more than 10% of time spent on Twitter.
Twitter wants to grow video further and sell video in partnership with content creators.
Tucker Carlson's new show is an example:
2/ Invest in payments
Twitter has changed its name to X Corp to become a super app that includes payments.
The company is applying for money transmitter licenses in all 50 U.S. states.
Maybe we'll all be able to DM money soon?
3/ Ad spend is back
Spending in several ad categories is up 40% year over year, including:
- Health
- Consumer packaged goods
- Financial services
Companies like Warner Bros, Mondelez, McDonald's and Walmart are advertising again.
4/ This is all similar to Elon's Twitter investor deck from 2022 where he talked about focusing on:
- Video
- Encrypted DMs
- Long form tweets
- Ads as entertainment
- Payment
Exclusive: Twitter to focus on video, commerce in business revamp | Reutershttps://www.reuters.com/technology/twitter-focus-video-commerce-business-revamp-investor-presentation-2023-06-16/