Twitter missed its first quarter revenue estimates badly and blamed big-brand advertisers for not increasing their spending as fast as expected. For investors, this news was unsettling, but the micro-blogging firm is assuring them that video will be its new cash source.
Promoted tweets not enough for advertisers
For Twitter, rich brand advertisers could be a reliable source of cash, but it has been facing issues like stagnant user growth, a muddled product strategy, and management turnover. Twitter’s signature ad product — Promoted Tweets — seems to be the culprit. A Promoted Tweet resembles a regular tweet but includes promotional images, text and links. James Douglas, executive director of a social media agency owned by Interpublic Group, told The WSJ that the brands are looking for more immersive advertising like video or interactive ads and hence are moving away from these ads.
Advertisers are waiting for Twitter to deploy improved tools to measure performance and target users, the micro-blogging site said. It expects to launch those improved tools in the fall, and at the same time, will start live-streaming the first of 10 National Football League games. The micro-blogging giant will get 15 ad slots to sell commercials during each game under the new NFL deal.
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