On Twitter, she said she had been inspired by billionaire Elon Musk's vision for a brighter future and expressed her delight at being able to help transform the social network.
She emphasized that user feedback would play a crucial role in building Twitter 2.0.
On May 12th, billionaire Elon Musk appointed Yaccarino as the new CEO of Twitter. In the appointment announcement, Musk stated that Yaccarino would help create a multi-tasking application capable of providing a range of services such as peer-to-peer payments.
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| Ms. Yaccarino has just been appointed CEO of Twitter. (Source: Reuters) |
Ms. Yaccarino previously served as the head of advertising business at NBCUniversal (part of the global media conglomerate Comcast). Mr. Musk's choice of a CEO with extensive advertising experience suggests that digital advertising will continue to be a key focus of Twitter's business.
He said the appointment of a new CEO for Twitter would give him more time for his electric vehicle company, Tesla.
Billionaire Musk became the owner of Twitter after completing a $44 billion acquisition of the company last October.
Shortly afterward, he carried out a major overhaul by swiftly firing CEO Parag Agrawal and other senior executives, and went on to lay off half the staff in November.
Many advertisers have stopped using Twitter's service due to concerns that their ads might appear alongside inappropriate content, after the company cut nearly 80% of its workforce. Even Musk has had to admit that Twitter's advertising revenue has plummeted.
Analysts at Insider Intelligence predicted on April 11 that Twitter's advertising revenue would decline by 28% to $2.98 billion in 2023.
This figure is lower than the previously forecast $4.74 billion amid declining confidence in the social network.
Insider Intelligence analyst Jasmine Enberg highlighted that the biggest problem for Twitter's advertising business is that advertisers don't really trust billionaire Elon Musk, the CEO and owner of the social network.
She argued that Twitter needs to separate Musk's personal brand from the company's image to regain advertisers' trust. Insider Intelligence also noted that Musk's efforts to boost the subscription service will not help offset the revenue losses.
According to Insider Intelligence, users are no longer as interested in Twitter as they once were after Musk became the company's leader. The company predicts that the time users spend on the platform will decrease by 2 minutes, to 34 minutes per day.
The decline in usage time is due to the increasing amount of harmful content and technical glitches on Twitter, as well as the company's failure to expand into the video segment of the social network to compete with TikTok.
Expert Enberg points out that Twitter is still heavily reliant on news streams. The hype surrounding the potential acquisition of Twitter in 2022 has cooled down.
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