Twitter has announced Linda Yaccarino as its new CEO amid a 59% YoY decline in advertising revenue. Yaccarino comes from NBCUniversal, where she was Chairman of Advertising Sales and Client Partnerships.
Twitter’s US advertising revenue was a measly $88 million between April 1 and the first week of May. The platform has struggled to regulate hate speech and explicit content, which has driven key brands away. It has also seen a surge in online gambling and marijuana product ads that have further deterred potential partners.
Advertising is crucial to Twitter, accounting for 90% of its revenue. The platform aspires to “the most respected ad platform.” Major brands such as General Motors and Volkswagen have suspended their ad investments, while Apple, Amazon, and Disney have reduced their spending.
Despite these challenges, Twitter remains a valuable platform for brands looking to engage with their target audiences. Yaccarino’s background in advertising sales and partnerships makes her crucial to Twitter’s battle to regain its stronghold in the digital advertising market.
As Yaccarino takes over as CEO, the tech and social media industry will be watching Twitter’s trajectory. Success in reversing the platform’s decline in advertising revenue will be a litmus test for its viability in the coming years, with Yaccarino’s leadership instrumental in steering the company towards profitability.
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Communication was beyond great, his understanding of our vision was phenomenal, and instead of needing babysitting like the other agencies we worked with, he was not only completely dependable but also gave us sound suggestions on how to get better results, at the risk of us not needing him for the initial job we requested (absolute gem).
This has truly been the first time we worked with someone outside of our business that quickly grasped our vision, and that I could completely forget about and would still deliver above expectations.
I honestly can't wait to work in many more projects together!
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