Twitter’s new CEO, Linda Yaccarino, has taken over for Elon Musk, who says he will now focus on Tesla and his other entrepreneurial endeavors while his woke CEO tries to improve Twitter’s ad business.
According to Interesting Engineering, Linda Yaccarino, an experienced NBC Universal marketing executive, and former global economic forum chair known for her extremely challenging woke positions on Twitter’s business practices and policies, is scheduled to become the social media giant’s newly appointed CEO today, ushering in a significant change in the organization’s executive management. Elon Musk, who served as Twitter’s acting CEO, is resigning from his job during this transition and says he will devote his attention to his other businesses, such as Tesla.
Yaccarino’s employment coincides with a pivotal period for Twitter. Under Musk’s leadership, the company experienced significant changes, including the change to private ownership last year. Musk’s Twitter strategy was largely focused on earning revenue via Twitter Blue subscriptions, a service that requires a monthly fee but gives users access to advanced capabilities. This approach signified a change from Twitter and the bulk of social media networks’ traditional advertising-based business model.
As was previously reported, Musk’s appointment of an advertising professional as CEO is an acknowledgment that his subscription-based revenue model is ineffective.
“What would then be Twitter’s primary source of income? Of course, subscriptions. Musk said that Twitter will prioritize Twitter Blue, a premium $8 monthly membership service, above ad revenues. By 2025, Musk expected Twitter Blue to have 69 million members. Musk said that 159 million subscribers will be paying for the service by 2028.”
“But from what I can see, things don’t appear to be developing that way. Less than 700,000 people have joined Twitter Blue, despite the fact that it has been accepting memberships for six months, according to social media expert Travis Brown. Musk has offered thousands of ‘complimentary’ memberships to influential individuals, therefore not all of them are paying for their subscriptions.”
As one of its key components, Twitter’s new orientation seems to focus a fresh emphasis on enticing advertisers back to the network. This move could point to a return to a more traditional business model, one that uses the platform’s substantial user base to generate advertising income.
