Twitter talked up its strategy for content and live video streaming, as it delivered a mixed set of Q2 results, with its struggles to boost user numbers once again under the spotlight.
The company reported 313 million monthly active users (MAU) in the quarter, representing a 3 per cent increase from Q2 2015, and a relatively flat 1 per cent growth from the previous quarter.
Mobile MAUs, meanwhile, represented 82 per cent of its total users in the quarter.
The company is clearly now betting big on video to boost these numbers, with growth still notably a lot slower than rival social media platforms. Facebook, for example, recently announced its messenger application has 1 billion users, and the platform itself has 1.65 billion MAUs. Instagram boasts 500 million monthly active users, while Snapchat says it has 150 million active users daily.
Twitter has moved to strike partnerships with some of the biggest associations in US sport to deliver live streams of certain baseball, hockey and football games, and ramp up this strategy. It also has a partnership with CBS to deliver a similar service for US political events.
Jack Dorsey, the company’s CEO and co-founder, who returned to the company a year ago, said the company is “confident in our current product roadmap”.
“We are seeing the direct benefit of our recent product change in increased engagement and usage. We remain focussed on improving our service to make it fast, simple and easy to use, like the ability to watch live streaming video events unfold and the commentary around them”.
While hoping that the push in video will drive more users to the platform, Twitter will also hope to attract more advertising, its main source of revenue.
The quarter showed advertising revenue totalled $535 million, up 18 per cent from $452 million last year, with mobile advertising representing 89 per cent of that figure.
Total revenue, meanwhile, increased 20 per cent from the same quarter last year to reach $602 million, from $502 million, with data licensing and “other” making up the rest of the earnings.