Exclusive: Twitter to focus on video, commerce in business revamp

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Twitter plans to focus on video, creator and commerce partnerships to revitalize the social media company's business beyond digital advertising, according to an investor presentation by owner Elon Musk and new Chief Executive Linda Yaccarino that was reviewed by Reuters.

Yaccarino, who started as CEO on June 5, told Twitter investors on Thursday that the company is in early conversations with political and entertainment figures, payments services and news and media publishers on potential partnerships, said a source familiar with the matter, who spoke on condition of anonymity to discuss a private investor call.The presentation was Yaccarino's first time addressing the company's investors, the source said.

Musk's hiring of Yaccarino, a longtime advertising executive who modernized ad sales at Comcast-owned entertainment and news conglomerate NBCUniversal, was a signal that digital ads remained a priority for Twitter. Well-known brands including Warner Bros, Mondelez, McDonald's and Walmart have resumed advertising on Twitter after initial pauses, the slide said.

Twitter is applying for "money transmitter licenses" in all 50 U.S. states, according to a slide from the presentation.

 

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