LinkedIn Working on Video Advertising Product to Target Streaming Platform Users

LinkedIn generates revenue from ad sales and subscriptions for recruiters, job seekers and sales professionals.

By Reuters | Updated: 16 June 2023 10:35 IST

LinkedIn Working on Video Advertising Product to Target Streaming Platform Users

Photo Credit: Reuters

LinkedIn recently introduced AI features to help advertisers write ad content

Highlights

It said in-stream video ads can change the way brands reach audiences
In Q3 FY 2023, revenue increased 8 percent year-over-year
Video ad would allow marketers to target users while they stream content

Microsoft-owned LinkedIn said on Thursday 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.

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LinkedIn's trailing 12-month revenue is north of $14 billion (roughly Rs. 1,14,700 crore), and as of the third quarter of fiscal year 2023, revenue increased 8 percent 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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Meanwhile, LinkedIn announced Tuesday that it will close down its last service available in China, citing "fierce competition and a challenging macroeconomic climate".

Microsoft-owned LinkedIn was one of the few US technology companies to successfully operate a social media site in China, where the internet is heavily regulated and censored.

The company had introduced a unique domestic version of the career networking platform operated locally in order to comply.

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Apple unveiled its first mixed reality headset, the Apple Vision Pro, at its annual developer conference, along with new Mac models and upcoming software updates. We discuss all the most important announcements made by the company at WWDC 2023 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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