As per the reports of the news agency Reuters, the professional networking website LinkedIn is working on a video advertising product. This would let marketers target users on the platform whenever they are watching movies and TV shows on streaming services.
Penry Price, The vice president of marketing solutions at LinkedIn, says:
“In-stream video ads can change the way brands and buyers reach and engage their audiences.”
This can be termed a smart move for the Microsoft-owned company. This is because LinkedIn generates most of its annual ad revenue from ads sold on its news feed.
Last year, LinkedIn’s revenue took a leap of 34% to $3.5 billion. The high advertising demand and subscriptions for recruiters, job seekers, and sales professionals helped LinkedIn with this achievement.
It is essential to know that prominent advertisers are looking for ads on video-streaming services in the market. It seems like LinkedIn wants to make revenue out of this fast-growing streaming ad market.
As per the reports of The Information, LinkedIn could use the data it has collected from its 930 million users. It can get a bigger share of the $60 billion businesses spend advertising to other companies.
Recently, as part of its strategy to grow its advertising business, LinkedIn introduced AI capabilities. This AI-generated messaging features intends to help advertisers to effectively create ad content. This feature is also available on LinkedIn Recruiter. It allows employers to create their InMail messages personalized for potential candidates based on data available on their LinkedIn profile.
In addition, the company has introduced an AI feature that can analyze information about work experience and skills that users provide to create synopsis and profile captions for users.
The company also added that this would help LinkedIn job seekers to make a good first impression on recruiters, as names and headlines are the first things recruiters see on a profile.
