Twitter’s Chief Revenue Officer Adam Bain took the stage at IAB’s Mixx Conference today and revealed a few milestones for the communications platform, specifically in the advertising area. Bain said that Twitter now has 1,600 advertisers using the platform to reach consumers, and currently has an 80 percent retention rate with advertisers. Back in July Twitter CEO Dick Costolo said that the number of advertisers on Twitter had gone up by 600 percent, since last year when it was in the hundreds.
Back in March, Twitter partnered with Paramount Pictures to launch the trailer for new film SUPER 8 on Twitter. Bain also said today that Twitter helped Super 8 sell 1 million sneak peek tickets, and opening weekend box office exceeded projections by more than 50 percent. Another example of advertising success on Twitter, was with fashion line Burberry, who launched a fashion show on Twitter and saw 14 percent higher engagement, and saw a 10X lift in brand mentions.
Bain told the audience today that engagements on Twitter ads are defining by clicks on links and retweets.
Costolo told the media a few weeks ago that advertising is a key strategy for the company. “Our advertising method is the only one we need to be a big business,” he said at the time.
eMarketer just released a report indicating that Twitter’s ad revenue is expected to be lower this year, but will grow significantly over the next few years once the platform’s self-serve ad product rolls out. In fact, in 2013, eMarketer estimates worldwide ad revenues at Twitter will reach nearly $400 million.
Photo Credit/Michael Lazerow
-(via Tech crunch)