Faced with mounting pressure to keep itself interesting and profitable, Twitter is launching a new Promoted Video ad product.
The San Francisco-based company says First View will let marketers own the top Twitter ad in news feeds for a 24-hour period. (The feature will be the first ad users see when they pull up their news feed on the Twitter app or website.) Promoted Videos will appear universally in feeds, just like Promoted Trends and Promoted Moments. The first to run a First View ad is 20th Century Fox.
"Each day, millions of people come to Twitter to engage in conversations about their passions and every topic of interest that continually shapes culture," Twitter's revenue product manager Deepak Rao wrote in a blog post. "At the same time, marketers come to Twitter to reach this live, premium audience through Promoted Trends and Promoted Moments, creating significant brand moments for their product launches, event sponsorships, and film premieres."
The tech giant has been facing mounting pressure to expand its user base and retain those already on the platform. In recent weeks, as Twitter has seen key personnel leave for other tech companies, some agencies say the microblogging platform is in need of a "renaissance."
Share prices fell Monday to a new all-time low, following weekend media reports that the company—known for its real-time chronological news feed—might soon be unveiling an algorithm option similar to that of Facebook.
For now, First View will be available to managed clients in the U.S. and viewable only to U.S. users. Twitter says it plans to gradually expand the product to marketers and users globally in the coming months.