Twitter is planning to pivot to video content, according to Reuters. Cheddar News explains how the tech giant looks to double down on video, creative and e-commerce strategies.

<div class="block">Twitter is planning to pivot to video content, according to Reuters. Cheddar News explains how the tech giant looks to double down on video, creative and e-commerce strategies.</div>

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Report: Twitter Planning to Double Down on Video Content

So Twitter has a new plan for success and it involves an old strategy. According to Reuters, the platform plans to pivot to video news, senior reporter Michelle Castillo is here to talk about what video means for Twitter's future. Welcome Michelle. So you can already post longer videos on Twitter right now. What's Twitter going to do with this new video strategy? What's different? Well, George, as I pointed out earlier is doing something that they've done in the past and they're really just doubling down on video. So they do think it's the way forward for the company. And that's according to recent comments made by Ceo and Linda Ceo, Linda Rao. So a source who was on an investor call with told Reuters that the new chief executive said that the company is working on video creator and e-commerce strategies. So let's start with the video front. Twitter is having conversations with media companies as well as politicians and entertainment figures for future video plans. Now this isn't new territory for Twitter in the past, the platform has forged many partnerships with media companies and they even bought live sports rights including Thursday night football in an attempt to draw people to watch more content on the platform. And if you think about recent examples, think about Tucker Carlson, he launched his Twitter show, Tucker on Twitter. Now viewership numbers aren't available, but two beer labs told NBC news that one of Carlson's most viewed clips, which was a 10 minute episode on an unconfirmed report that Ukrainian forces attacked the Russian Dam that got 26 million views. So there is some benefit to this video strategy. In addition, Twitter may also include more payment options in the future. So according to this presentation that Reuters obtained, the company is applying for money transmitter licenses across the US. This would make it possible to send money to people using Twitter. It's kind of similar to how you can send money via whatsapp or even I message. And this method is already very popular in foreign countries including China through wechat, but it hasn't quite picked up in the US yet. And Twitter is hoping that it can be that catalyst. So Twitter previously relied mostly on advertising revenue. How can this new strategy actually help it boost its overall revenue? Well, we're all watching more video more than ever and it's not a new pivot, but it may bring in more advertising dollars for platforms like Twitter. So mobile usage is still the majority of where we spend our digital time. According to e marketer, adults spent a little over 3.8 hours on their phone a day and it's only gonna go up. So while time spent on connected TV, is increasing since we are streaming more shows, it's still less than two hours a day. And this year adults are expected to watch a more digital video than they are watching TV. For the first time ever. E marketers is predicting that we're going to spend three hours and seven minutes watching digital video daily. And that's compared to just three hours and two minutes watching shows. And that gap is expected to grow towards mobile even bigger in the next few years. So this means if advertisers want to reach potential customers, they're gonna have to want to pivot to video as well. And Rio is well aware of this trend given her experience with TV and video from her years as head of ad sales at NBC Universal. Now, remember I was talking about that payments portion. This could give owner Elon Musk and the team a way to get a little more revenue from the increase of people potentially buying things they see online. So if we're watching more video and we're reviewing more ads to buy things, chances are we're going to want to purchase the things that we see and owning the entire ecosystem, gives Twitter more chance to take money from all aspects. Fascinating stuff, Michelle. Thank you so much.