Twitter's Chief Revenue Officer Adam Bain is calling the company's ad revenue program a success. And he is expecting the revenue stream to get even bigger.
The CRO discussed the social media giant's ad-based business model's growth at a Business Insider-hosted conference in New York City. According to Bain, 2,400 clients have purchased promoted tweet, promoted trending topics, and/or promoted accounts. This shows that a company can run a good website and earn money through its ads and not charging its users. The college days of social networking are long gone.
While Bain was hesitant to tell Business Insider how much Twitter earned from its ads but was fine sharing how the company promoted the movie Super 8 and induced the sale of 1.4 million tickets. If promoted tweets are able to boost sales like that, the asking price has to be huge. Advertising that brings in a million sales of anything doesn't come cheap.
Twitter's more social-based style of advertising is certainly outperforming the traditional advertising from Yahoo!, which is struggling financially.
With both Twitter and Facebook selling ads, does anyone one think social media will overtake traditional banner ads? Which one impacts you more?
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