Twitter expands its video programming lineup
Twitter (TWTR) used this year’s NewFronts event to unveil over a dozen new video partnerships as it works to expand its video advertising business, which has become an important source of revenue. The new video content deals announced by Twitter at the NewFronts event last month include a broad programming partnership with Univision that will target Spanish-language audiences in the United States. The Wall Street Journal is also launching an original video show on Twitter.
In addition to the brand-new video content deals, Twitter also announced the renewal of programming agreements with some of its existing video partners, expanding its video programming lineup.
Twitter contributes over 50% of Twitter’s advertising revenue
Twitter’s latest video content deals show a company working to build on its strengths. Video has become a key contributor to Twitter’s top line. The company reported that video advertising contributed more than 50% of its total advertising revenue in the first quarter. Twitter derives close to 90% of its revenue from its advertising business.
Twitter’s advertising revenue rose 18%
Twitter’s advertising revenue rose 18% year-over-year to $679 million in the first quarter. Advertising revenue rose 26% year-over-year at Facebook (FB), 18% year-over-year at Yandex (YNDX), and 15.4% year-over-year at Google parent Alphabet (GOOGL) in the first quarter. Yelp (YELP) recorded a 6.0% year-over-year increase in advertising revenue in the first quarter.