Twitter Inc remains strong despite a plunging stock price, bitter competition from other social media platforms, and its staff exodus. This is according to Adam Bain – Twitter’s Chief operating officer. On Wednesday, in an interview to CNBC’s “Squawk Alley,” Bain said, “The morale of the company’s never been stronger, because the focus on the company has never been stronger.”
Twitter confident despite setbacks
Over the past year, Twitter Inc shares have tumbled 54% after its revenue guidance fell short of analysts estimates. This decline in the stock has come amid layoffs and executive departures. In key metrics, other social media networks such as the photo-sharing app Instagram and Snapchat have surpassed Twitter.
And, with CEO Jack Dorsey back at the helm, the micro-blogging firm has announced a slew of new products and investments – since this spring – to improve streaming capabilities, live video and revive the platform. But, little has been achieved so far.
However, Bain told they are working to grow shareholder value, and “we’ve seen some great evidence this week in terms of what’s ahead for the company, and our ability to stay strategic with those advertisers.” In terms of return on investment – we have shown that advertisers get better returns when they use video in their ad campaign compared to traditional promoted tweets, the COO said.
Many things in pipeline
This week, the US-based firm introduced a tool to allow users share 140-second videos from 30 seconds previously, in a move to make videos more profitable. This month, the micro-blogging firm also announced an investment in a music-streaming firm – SoundCloud, acquisition of a machine-learning firm that makes videos sharper and a standalone analytics app.
In addition, Twitter Inc ’s Thursday night broadcasts of NFL games will be hiking up this fall as well. Bain said the football games mark one of the first times when logged-in and logged-out users will have a similar Twitter experience. Ahead of the weekend, Thursday nights are a key marketing window, and the micro-blogging firm aims to clinch some of those marketing dollars, Bain said.
“We do control some of the ad inventory in the games as well, so with marketers we’ve been talking about what’s possible there,” Bain said. “We’ve seen incredible demand.”
However, not every Twitter’s rollout has been well received. The Twitter Trust and Safety Council got criticism from both liberal and conservative media outlets. Internally, the firm has bigger plans, said the COO.
Bain concluded that they have the advantage of understanding what’s in the pipeline and the things that are ahead, and they cannot wait to show the world what they have been showing the marketers here at Cannes.
At 10.40 am EDT, Twitter shares were up 2.85% at $16.59. Year to date, the stock is down over 25% while in the last one-year, it is down over 53%.