Monday, December 11, 2023

Twitter (X) prepares to compete with YouTube and LinkedIn

Elon Musk plans to compete with YouTube and LinkedIn. The owner of Twitter told his employees that both platforms will be competition in the not too distant futureby stating that they will develop new services to integrate them into X. The idea of ​​a single application is still in the mind of the tycoon, who a few days ago implemented video calls on the social network.

According to a report from BloombergElon Musk and Linda Yaccarino —executive director of X— They held a meeting with all their employees to commemorate the first year under the new mandate. Twitter bosses cited progress over the past 12 months and said the company is positioned for growth. According to Musk and Yaccarino, the company experienced a decade of innovation in just one year.

The managers pointed out YouTube and LinkedIn as future competitors of X. The managers did not offer more information, however, there are functions on the platform that give us a clue. Verification for companies allows you to post job offers directly on X, a feature that could steal a piece of the market from LinkedIn.

On the other hand, Videos have become an obsession for Elon Musk. X engineers improved video recommendation models and the quality of live streams. Musk himself put the latter to the test during a live broadcast of Diablo IVopening the door to speculation about whether Twitter would rise as an alternative to Twitch.

The company’s strategy is not limited to a video or employment platform. The executives also expressed interest in launch a news service called XWirewhich would distribute press releases starting in 2024.

Twitter’s achievements under Elon Musk

While the most surprising change during the first year of the Musk era is the new name, the company made significant adjustments to the platform. In a post made on X’s blogLinda Yaccarino highlighted advances in freedom of expression, security and combating disinformation. The CEO mentioned that Twitter has a base of 500 million users per month, as well as 1.5 million active subscribers per day.

“Our fiercely loyal users live more of their lives on X (…) driven by the growth of our Video and Communities products,” Yaccarino said. “Today, the average user spends more than 32 minutes of their day on X.” The executive highlighted that they encourage quality content, while combating spam and bots.

According to Yaccarino, X has recovered 90 of the 100 advertisers that invested the most in advertising. “Our willingness to listen and take action on brand safety has been recognized by the advertising community,” she said. This information contrasts with data from the analysis firm Guideline, who reports that advertising sales fell by 54%, compared to September 2022.

The director stated that they maintain a dialogue with external groups to stay up to date on potential risks and support safety. Yaccarino mentions the Anti-Defamation League in this listthe same one that Elon Musk threatened to sue and whom he accuses of “trying to kill the platform” for considering it anti-Semitic.

Although the outlook seems complicated, Linda Yaccarino promised a 2024 with new features in X. News and paid services, as well as improved search, will arrive next year. “This product innovation and business momentum is underpinned by one of the most rigorous corporate restructurings in history,” the CEO said.

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