Global domination doesn’t seem too far fetched for Twitter, according to its CEO.
At the Cannes advertising festival, Twitter’s CEO Dick Costolo told audiences that Twitter will aggressively expand its advertising products to 50 countries worldwide by the end of 2012.
Costolo said that, while the company wouldn’t open an office in each of these proposed 50 countries, he’s hopeful that it would be able to sign on advertisers to buy Promoted Products, like Promoted Tweets, Trends and Accounts.
And although Costolo didn’t reveal the full list of countries they expect to reach, Adam Bain, Twitter’s revenue chief, did mention new markets in Latin America such as Brazil, as well as in Western Europe including Spain and Germany.
Costolo did however provide some interesting insight into Twitter’s usage. Apparently 60 percent of users access Twitter via mobile, and its growth is still steady, not slowing down like its main rival Facebook.
Twitter’s monetization strategy revolves around two main income sources: Promoted Products, its advertising products, and selling tweets from the firehose.
Promoted Products are by far Twitter’s most public offering, as the company tries to get big and small businesses around the world buying traditional Promoted Products or getting in on its still-beta self-serve platform for smaller purchases.
But Twitter also makes money selling access to its billions of tweets a week to companies looking for in-depth data gathering.
And, while all of this money-making speculation and commentary is nice, Twitter itself is staying pretty tight-lipped about future financial decisions, with Costolo saying,
“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 [to make strategic decisions such as an IPO or sale]. We do things when we are ready. We have a good understanding about pacing and have the discipline to make the [right] choices ourselves… [and] That is one of the great things of being private, I don’t have to discuss these things.”
- Twitter 'Happy' for Users Not to Tweet
- Snapchat $10 Billion Valuation 'Not Absurd', Says Twitter CEO
- Feds Spend $1 Million on 'Truthy', the Database That Tracks Misinformation on Twitter
- Twitter Ads Launch in 12 New Markets, Including Austria, Czech Republic, Switzerland and Ukraine