Twitter saw ad sales rise last quarter, leading to better-than-expected revenue, but the interim CEO Jack Dorsey, co-founder of the company, said user growth is still too slow. The San Francisco tech company released Q2 earnings today, including ad sales that were up 63 percent year over year for the quarter, hitting $452 million. Overall, revenue reached $502 million.
Twitter ad sales
Twitter hired Bill Masterson to lead the social site's financial accounts for brands like Visa and MasterCard, the company said today. Masterson is coming over from SocialCode and was with Facebook from 2010 to 2013.
Twitter shares dropped about 10 percent after the company revealed its third quarter financial performance, with user growth slower than expected while ad sales rose.
Twitter has 271 million users who are active and logged in, but then there are many more visitors who never announce themselves.
Twitter is starting to sell app install ads to all, and the car service Lyft said that these campaigns cost 30 percent less to acquire a new customer than the company planned.
Omnicom Media Group will now get first dibs on some of Twitter’s evolving ad products, including new digital video formats, according to the people involved in a broad media deal announced Tuesday.
Twitter and Omnicom struck an ad deal today, sources confirmed for Adweek. Omnicom Medial Group is set to spend up to $230 million marketing on the messaging platform over the next two years, according to The Wall Street Journal.
Twitter’s one-click video is now open to advertisers and brands, Adweek has discovered. Twitter confirmed that the more desirable video format has been expanded beyond Amplify media partners who started using such easy-play videos in March.
Pinterest has filled a top-level sales position, tapping a Twitter veteran to round out its partnerships team as it builds its ad business. Lisa Manowitz started today as the head of partnerships on the East coast, and is based in the New York office, Pinterest told Adweek.