Twitter struggles for profit, seeks ad dollars with live news, CEO tweets





Inc is turning its spotlight onto a new demographic in its bid to lure more advertising dollars to its platform: deep-pocketed business users.


The microblogging service has 330 million monthly active users but has struggled to turn its popularity into profit, losing out to rival Inc for ad dollars.



Now it is going after a more niche business audience, taking on LinkedIn, Microsoft Corp’s professional


For several years, has had an employee whose job is to teach and encourage CEOs like Goldman Sachs Group Inc’s Lloyd Blankfein and Walt Disney Co’s Bob Iger to tweet. They both do, sparingly.


launched a round-the-clock streaming news network with Media this week, which is designed to appeal to business people as well as a general audience.


The 24/7 news service, called “by Bloomberg,” live-streamed coverage of British Prime Minister discussing negotiations on Wednesday, its third day of operation, attracting about 4,000 viewers.


It also racked up 55,000 concurrent views on the US House of Representatives vote on the tax bill on Wednesday. Global news updates had total views in the hundreds of thousands.


and have not publicized financial arrangements over TicToc, but such projects usually work on a share of ad or sponsorship revenue. Neither commented on Wednesday.


has seven initial and derivatives marketplace firm CME Group Inc. has said it will eventually open up to additional sponsors.


Twitter’s shares rose slightly on Wednesday. They are up 45 per cent over the last 12 months, outpacing the red-hot sector, even though ad revenue was down 8 per cent in the third quarter from the previous year, the third consecutive quarter of year-over-year declines.


The stock is still less than half its value in late 2013 after its initial public offering, when investors had high hopes would cash in on its fast-growing user base.


V LINKEDIN


launched on just a few months after introduced video ads for its service. The professional networking platform is a top choice for business-to-business advertisers and presents tough competition for Twitter, told Reuters.


LinkedIn’s video ads are attractive to advertisers because the service has job titles and resume data that advertisers can use to target their messaging, said Aaron Shapiro, at Huge, a digital agency that counts and as clients.


is more about broadcasting, so if I want to get my name out, that’s good,” he said. “is much more targeted.”


has the potential to be a great platform for advertisers that want to reach business executives and investors because so many are on Twitter, said one at a Fortune 500 company who asked for anonymity because he is not permitted to speak to the media.


“If you are a packaged goods company, you probably care more about the middle of the country, so is the better channel,” he said. “But for us, we are excited to see with


Competing with will be difficult for because is better at providing measurements and results to advertisers, the said.


Because of its detailed user data, LinkedIn’s strength is showing advertisers wherein the sales process it contributed to converting a customer, said Craig Atkinson, at Ph.D., a unit of Omnicom Media Group.


 


 




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