LinkedIn to test ad product for video streaming services
A keyboard is placed in front of a displayed LinkedIn logo in this illustration taken on Feb 21.
PHOTO: Reuters
PUBLISHED ONJune 16, 2023 5:35 AM
Microsoft Corp-owned LinkedIn said on Thursday (June 15) it was working on a video advertising product that would allow marketers to target users of the professional networking site while they watch content on streaming services.
This comes after LinkedIn introduced AI features to help advertisers write ad content, part of a strategy to expand its ads business at a time when economic uncertainties have hit advertising budgets.
"In-stream video ads can change the way brands and buyers reach and engage their audiences," Penry Price, vice president of marketing solutions at LinkedIn, told Reuters.
LinkedIn's trailing 12-month revenue is north of US$14 billion (S$18.7 billion), and as of the third quarter of fiscal year 2023, revenue increased eight per cent year-over-year.
The company generates revenue from ad sales and subscriptions for recruiters, job seekers and sales professionals.
The Information reported the news earlier on Thursday.
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