Twitter Inc (NYSE:TWTR) CEO Jack Dorsey announced that Bruce Falck has joined the social media company as its head of revenue product.
Falck previously worked as CEO of adtech firm Turn, which was acquired by marketing tech firm Amobee for $310 million earlier this year, Tech Crunch reported.
One the biggest problems faced by Twitter is the lack of attractive products for advertisers. The company has been struggling to convince digital advertising companies to promote their products and service on its platform.
Falck is expected to help the social media company build appealing products for advertisers. According to Tech Crunch, Dorsey “made a pretty obvious choice to bring in an executive with adtech experience to start working on the team.”
We do not have information about Twitter’s plans to gain advertisers’ attention. In a recent letter to shareholders, the microblogging network said that it has been working to streamline and simplify its revenue products, build new revenue product features and reallocate resources to its highest revenue-generating priorities.
Twitter told its shareholders that it inked a number of new advertising agreements with some of its largest advertiser partners and agencies in key geographies.
“We continue to expect revenue growth to meaningfully lag audience growth in 2017. We believe, however, that executing on our plan and growing our audience should result in positive revenue growth over the long term,” the letter states.
Twitter is betting big on live streaming video. In the first quarter, the company said it streamed more than 800 hours of live premium video from content partners across more than 450 events reaching 45 million unique viewers.
“Video remained our best-performing ad format in Q1, reflecting strength in our First View ad format and in pre-roll and live-streaming video ads. Our live events and in-stream video ads garnered significant viewership, delivering great reach and a large variety of premium content categories to advertisers,” the company said in the letter.
Meanwhile, Twitter Inc (NYSE:TWTR) reported better-than-expected results for the first quarter of 2017.
Revenue arrived at $548 million, down 8% year-over-year, but beat analysts’ expectations of $512 million. The company posted net income of $82 million, down from $102.72 million a year ago. However, it managed to beat expectations of $0.01 earnings per share (EPS) with $0.11 EPS.
For the first quarter, average monthly active users were 328 million, up 6% year-over-year, according to the company. It reported a 14% year-over-year increase in its average daily active usage.
Shares of Twitter closed up 1.26% on Thursday. The stock is up over 13% so far this year.