Social media platform X, formerly known as Twitter, is partnering with Paris Hilton and her digital ad agency 11:11 Media as it seeks new revenue and to redefine the platform.
The platform will work with Hilton to create original video content on fashion, beauty, travel and other topics, the company announced Monday. Ms Hilton, an American media personality and socialite, will also help promote the launch of its new products and services.
The social media platform has been pushing for new avenues of growth since Elon Musk’s chaotic takeover in 2022 led advertising sales to decline by more than half. The company launched a premium subscription earlier this year that offers additional features for a monthly fee. Mr Musk has also been vocal about turning the former Twitter into an “everything app” that includes audio, video, shopping, payments and more.
Partnering with Ms Hilton could help X push some of its shopping and video features. X and 11:11 Media will share revenue from the project.
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In recent months, chief executive Linda Yaccarino has been pitching brands, investors and companies on a vision for new products and services that generate revenue. In July, she met with talent agencies Creative Arts Agency and United Talent Agency, along with Walt Disney Co, the Financial Times reported. Ms Yaccarino also met with Ms Hilton that month.
On Thursday Ms Yaccarino is expected to talk with the bankers and investors that financed Mr Musk’s Twitter takeover to lay out the company’s financial plan, the Financial Times reported. At the Code Conference last week Ms Yaccarino said that the majority of X’s top advertisers have returned and the company could reach profitability by 2024. - Bloomberg
