Currently, my favourite website is Twitter! I will be discussing their monetization strategy below. In general, monetization can be described as the process by which something is turned into money. In terms of twitter, monetization and generation of its revenues are from two sources: the sale of advertising services and also data licensing.
Twitter is omnipresent and free for users that allow an individual or business users to express their views, interact and share content but also is a platform for celebrities and politicians to air their views via tweets.
Twitter produces most of its advertising revenue with the selling of promoted products, i.e. promoted tweets, accounts, and trends, to advertisers. The company creates tailored advertising options via an algorithm to make sure ensure that promoted products and contents pop up in the right users’ timelines, “Who to Follow” lists or top of the list of trending topics for in a particular day around the world, country or local area based on your location. Twitter also offers advertisers the option in-stream video ads, which are delivered to a targeted audience or possibly sponsoring video content from other publishing partners. The majority of the revenues twitter gained via advertising services in 2019 were generated through twitter’s platform itself or via third-party websites, applications and so on which twitter sells data to or licenses.