Twitter has for a long time been one of the most promising social media platforms but unfortunately, it seems to have hit a brick wall when it comes to turning tweets into gold.
The microblogging platform is considered one of the most engaging social media platforms but despite its advantages, subscriber growth and revenue have slowed down. This has been a source of concerns to the company’s stakeholders and has even led to a huge slump in the stock compared to its all-time highs. The firm has since then been thinking outside the box to try and get things moving in the right direction.
Stiff competition from rivals
One of the reasons behind Twitter’s lackluster growth is the stiff competition that it faces from other companies such as Facebook and Snap. The innovation offered by these companies has catapulted them miles ahead of Twitter when it comes to ad revenue and subscriber growth. The poor subscriber growth is to blame because it has discouraged advertisers to move to the competition.
“Until Twitter can return to revenue growth, we expect advertisers to devote their ad budgets to platforms with better targeting, reach, and scale,” stated Michael Pachter, an analyst at Wedbush.
Fortunately, Twitter has been hard at work trying to remedy the situation. The company has demonstrated an increased focus on bringing more video content to the microblogging platform. This particularly includes live streams as part of the company’s strategy to attract more advertisers while also making it more appealing to users.
Twitter has particularly been working towards securing the rights for various sports so that fans can access live streams of games freely and with ease on the social platform. The idea was that streaming such content on Twitter would not make increase viewership especially since it will focus on a global market and this is great for sports organizations. A global audience also means more reach which will, in turn, attract advertisers. The social media firm has been hard at work trying to secure such rights this year and these efforts are quite promising towards a better future for Twitter.