In an attempt to regain some of its lost users, and a few more advertising dollars, Twitter confirmed a number of its new business plans shortly after revealing its third-quarter revenue for the year.
A report from Adage shows that the company’s revenue for the quarter was $569.2 million, which is a 58% increase from the previous year. Additionly, it also reported an advertising revenue increase by 60% over that same time period, with $513 million, 86% of that coming from mobile ads.
That said, the company has slowed a bit on adding new users, with 320 million people using its service each month, including 13 million who use it specifically via text messaging to people who don’t necessarily have Twitter accounts. While that’s an 11% increase from the previous year, it’s a 12% decrease in growth overall from the second quarter numbers.
With that, the company is planning an elaborate new ad campaign that will promote its newly launched Moments section, which chronicles live events and invites people to take part in them. These ads premiered during last night’s World Series game, and more are being planned, including digital video and search ads.
Twitter also intends to appeal more to people that aren’t signed on for the social network, including showcasing ads to people who use Twitter, but aren’t logged into a specific account. These ads can still generate revenue, despite people not using the site as a logged-in user. In addition, it’s also trying to advertise on other sites and apps through services such as TellApart, which it acquired back in April, as well as the Audience Platform mobile ad network it recently launched. The Audience Platform network alone managed to generate $66 million for the third quarter, a 931% increase over the previous year.
Twitter is also looking to appeal more to advertisers, especially since rival services like Facebook and Instagram attracting more of them.
Video also played a part in the company’s report, with Twitter COO Adam Bain explaining that cheaper video ads could be of greater value to advertisers. “After introducing autoplay video, marketers saw an 84% decrease in the cost-per-video-views on Twitter. Additionally our marketers saw a 7x increase in the amount of video completions,” said Bain.
With the launch of a new DoubleClick pilot at the end of the year, it should make “measurement and attribution available for a small number of our joint customers,” Bain added.
