Los Angeles -- Popular micro-blogging outfit Twitter boasts some mighty ambitious plans and is gearing up to introduce its promoted tweets and other advertising products to nearly 50 more countries as it seeks additional revenue outside of the U.S., Twitter executives announced at a festival in Cannes, France, Thursday morning.
According to a Twitter spokesperson, Western Europe and Latin America will be among the first to witness their tweeters transformed into revenue for the company.
For instance, Twitter's Promoted ads products--which includes Promoted Tweets, Promoted Trends and Promoted Accounts--are all slated to be introduced in Latin America, the Caribbean, Spain, Italy, Germany, France and the Netherlands later this year. Promoted ads are currently only available to marketers in the U.S., UK and Japan.
Twitter Inc. Chief Executive Officer Dick Costolo addressing a press conference held during the Cannes International Film Festival Tuesday morning, said the short-messaging service will start offering its promoted advertising product in 50 new markets this year as it reduces its reliance on the U.S.
Twitter co-founder comments on Twitter's future:
“I’m extremely humbled by how quick and broadly Twitter has taken off an how we’ve done building something independent and timeless – this is a company that will last,”
“The company has always put itself in a position to choose when it is ready. We do things when we are ready. We have a good understanding about pacing and have the discipline to make the choices ourselves.”
Elaborating further, the company executive said, Twitter's ads, which motivate users to subscribe to a company's feed by recommending its postings, or “tweets,” to users, will be made available in additional markets in Latin America, including Brazil, and Western Europe, Adam Bain, the company's revenue chief, said today in a press conference in Cannes, France.
Twitter, based in San Francisco, is predicting $1 billion in advertising revenue by 2014, two people familiar with the forecast said this month. Besides, Twitter is expected to bring in $259.9 million in ad revenue this year, according to eMarketer. Currently, 90% of ad revenue come from U.S. companies, the researcher said.
The complimentary service, which Costolo said today is growing “delightfully well,” unveiled its first ad offering in 2010, and recently expanded to mobile ads.
“The growth we are seeing on the platform is interestingly still broad-based and global, still growing quite fast,” Costolo said at the Cannes Lions advertising festival.
As Twitter embarks on their ambitious mission to expand advertising, we can probably also expect to see an increase in the social media platform's user-base.