Twitter is expanding its revenue streams by offering its advertising service in 12 new markets across Europe.
Twitter’s failure to turn profit is now well-publicised, but the company has so far failed to turn things around. The social media giant has now opened new revenue streams by expanding its Twitter Ads service to 12 new markets across Europe.
Austria, Bosnia and Herzegovina, Bulgaria, Czech Republic, Macedonia, Croatia, Serbia, Slovenia, Romania, Switzerland, Portugal and Ukraine will all get access to the advertising service this year, being able to buy them from local direct sales teams for the first time. It takes the total number of markets where this is available to 35 in the Europe, Middle East and Africa region (EMEA) alone.
Twitter Ads has already tapped into the big European economies such as France, Spain and Germany, but this announcement will more than double the number of European countries where the service is available.
Central and Eastern Europe have been major growth areas for the company lately, and it makes sense that Twitter wants to make the most of businesses in the region that will start to see the social media site as a more promising marketing channel.
Speaking to the Financial Times, head of direct sales for the region Ali Jafari said that brands across Europe have been coming forward to tell the Twitter that they’re interested in working on marketing strategies with the social media firm. Putting direct sales teams on the ground there is a logical step to capitalise on that demand.
Twitter has been keenly focused on its global reach recently in a bid to maximise its income – and maybe even eventually turn a profit. It knows that over two-thirds of its users are based outside the US and that advertising is one of its chief revenue sources.
Yet at the moment, only about a third of its revenues come from international sources, so it makes sense for Twitter to open up every advertising opportunity that it can. The growth potential is huge, and it could be that investing in new markets is the key to finally reaching profitability.
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