For Twitter, things are getting better, but there’s always room for improvement.
A report from Adweek indicates that the social site has seen an increase in ad sales, according to the second quarter earnings report. Ad sales have managed to increase 63 percent over the previous year, hitting just over $450 million. Revenue has also gone through the roof to just over $502 million.
That said, interim CEO Jack Dorsey wasn’t entirely pleased with the results, as the pace of growth was much lower than expected. As a result, he promises a better user experience, as well as a full marketing blitz in the hopes of getting more people to jump on board.
“Our Q2 results show good progress in monetization, but we are not satisfied with our growth in audience,” said Dorsey during the earnings announcement. “In order to realize Twitter’s full potential, we must improve in three key areas: ensure more disciplined execution, simplify our service to deliver Twitter’s value faster, and better communicate that value.”
Dorsey found big shoes to fill when former CEO Dick Costolo stepped down last month, since he already had his hands full with his mobile payments company Square. Still, he seems confident in pleasing Twitter’s growing audience, which has risen to 316 million, up from 308 million from the previous quarter.
Speaking with Wall Street analysts, Twitter reps explained that attracting mainstream users could take some time, and the company is still thinking up ways to revitalize the platform so that it’s much easier for them to use. Part of that could come in the form of Project Lightning, a media service set to curate the most popular content on Twitter so that people can see what’s trending almost immediately, instead of sorting through hundreds of messages. “For the first time, we’ll have an integrated marketing campaign in the U.S. behind the launch of Project Lightning,” said CFO Anthony Noto.
It would help to cater to a mobile audience, since the site generates 88 percent of its ad revenue through mobile devices. Clearly, it has something in mind for making Project Lightning work in favor of those who use tablets and smartphones.
Another interesting fact about this earnings announcement is that it was broadcasted live on Twitter’s Periscope app, and over 4,000 people tuned in to hear the numbers live. Hardly record numbers, but, hey, it’s still innovative – and probably paves the way for future announcements to follow suit in the same way.