Twitter is planning to focus on video and commerce in order to revitalize its business. The company is applying for money transmitter licenses in all 50 U.S. states, which would allow it to facilitate payments between users. Twitter is also looking to grow its video content, with vertical video now accounting for more than 10% of time spent on the platform. The company envisions that it could sell ads and sponsorships alongside videos from content creators.
In addition to video and commerce, Twitter is also looking to expand its creator partnerships. The company has already signed deals with several high-profile creators, including former Fox News host Tucker Carlson. Twitter is hoping that these partnerships will help to attract new users to the platform and drive engagement.
The focus on video and commerce is a departure from Twitter’s traditional business model, which has relied heavily on digital advertising. However, the company believes that these new initiatives are necessary in order to stay competitive in the ever-changing social media landscape.
Here are some additional details from the investor presentation:
- Twitter plans to launch a new “super follow” feature that will allow users to charge for exclusive content.
- The company is also looking to develop a new live commerce platform that would allow users to shop directly from live video streams.
- Twitter is targeting $15 billion in annual revenue by 2028.
The future of Twitter is still uncertain, but the company’s focus on video and commerce is a sign that it is committed to reinventing itself. The company is betting that these new initiatives will help to attract new users and drive engagement, which will ultimately lead to increased revenue.