Twitter Inc said it was able to deliver more viewers than promised to advertisers on a U.S. election night livestream. Good news for the microblogging site as it tries to ward off growing competition for ad dollars from Snapchat and Instagram.
Twitter partnered with BuzzFeed to host an election night broadcast on Tuesday and attracted major advertisers, including Paramount Pictures, Amazon.com Inc’s “Man in the High Castle,” Activision Blizzard Inc’s “Call of Duty,” Johnnie Walker and Izod. San Francisco-based Twitter declined to say how much it charged brands to be included in the livestream, but said by email that it overdelivered between two to three times on its live ad impressions that were guaranteed.
Video from advertisers fetches higher rates than text and photo-based ads and is seen as key revenue source for Twitter. Snapchat has been building up its ad sales team ahead of next year’s IPO and Instagram will take a larger role in growing Facebook Inc’s ad revenue.
At least one of the advertisers, PVH Corp’s Izod, is eager to work with Twitter more in the future. Izod ran a 60-second video featuring presidential debate sensation Ken Bone in his trademark red Izod sweater. “We’re going to look long and hard about increasing our presence there,” said Mike Kelly, executive vice president of the Marketing Group, PVH’s in-house agency. “We walked away a bit changed in our point of view.”
Twitter handled the ad sales, and split half the revenue with BuzzFeed, according to a source familiar with the situation who spoke on condition of anonymity.