Twitter officially unveiled Promoted Video today as a beta product that could be a boon for its revenues when rolled out fully. Specialized has tested the ad unit, and the bicycle manufacturer told Adweek that the videos doubled engagement compared to branded tweets.
San Francisco-based Twitter will sell Promoted Videos on a cost-per-view model, charging advertisers when a video ad begins playing—following the standard practice among digital video sellers. Brand marketers can also analyze the impact of their campaigns with metrics such as completion percentage and whether organic videos outperformed paid efforts or vice-versa.
How many beta brands are on board wasn't revealed. And when exactly it will become available to the general population of advertisers appears to be up in the air.
Twitter, coming off a strong second-quarter earnings report, looks to gain a stronger foothold in the digital video space, which eMarketer estimates will nearly reach $6 billion in the United States in 2014 while jumping 42 percent compared to last year.