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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.
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.
Under Musk, Twitter changed its business name to X Corp., reflecting the billionaire’s vision to create a “super app,” like China’s WeChat, that he has said would include digital payments and other services.
Twitter is applying for “money transmitter licenses” in all 50 U.S. states, according to a slide from the presentation.
The company has also focused on growing video content on the platform. Vertical video now accounts for more than 10% of time spent on Twitter, another slide said.
Former Fox News host Tucker Carlson launched a new show earlier this month on the platform called “Tucker on Twitter.”
Twitter envisions that it could sell ads and sponsorships alongside videos from Carlson and other content creators, the source said.
