In August, Twitter saw a 74 per cent spike in average monthly football conversations in comparison to the previous 12 months – reaffirming that football is one of the biggest conversations in the region. The platform recorded a YoY increase in conversations around tech (over 49 per cent), electric cars (over 55 per cent) and smart cities (over 180 per cent). The third trend was ‘Eco-innovation ‘, with sustainability driving excitement about the future of the nation, as well as individual advancement and opportunity. The report outlined an incredible growth in conversations around pride for smart cities and NEOM (over 172 per cent), alongside aspiring to achieve the Saudi dream (over 161 per cent). The second trend, ‘Identity in Transit’, reflects feelings of pride in place, openness to new experiences, more gender balance in relationships, a desire to be recognised, and a melding of identity and personal aspirations. Whether it’s cryptocurrencies, online retailers, digital banks, or smart cities, the trend nods to people’s growing sense of financial empowerment. The trend also marked a YoY growth in conversations around the digital economy (over 36 per cent) and cryptocurrencies (over 595 per cent). It highlights a shift in behaviours and conversations, recording an over 49 per cent YoY growth in conversations related to offers, competitions and discounts. In Saudi Arabia, ‘Finance Goes Social’ was identified as a significant global and regional trend. Twitter MENA also released the Twitter Trends 2022 Report for Saudi Arabia for the first time this year, which revealed three key trends. Read: Twitter launches an edit button for paying subscribers Through the ‘Edit’ button, the platform aims for Tweeting to feel more approachable, allowing people to participate in the conversation in a personalised way. Twitter has also rolled-out internal testing of the ‘Edit Tweet’ feature before expanding to ‘Twitter Blue’ subscribers in the coming weeks. Launched across four key markets globally, including Saudi Arabia, Twitter’s ‘Timeline Takeover’ has witnessed a more than 277 per cent lift in recall and over 202 per cent lift in purchase and consideration intent when paired with ‘Branded Likes’. Twitter has continued to increase its feature offerings with launches such as ‘Branded Likes’, which allows advertisers to own the Twitter Timeline for a 24-hour period and transform the ‘Like’ button into a custom animation using brand imagery. "We remain cautiously optimistic that Twitter can enforce the agreement though realize this could drag on for some time," wrote Raymond James analyst Aaron Kessler on July 11, the day before the suit was filed.These figures were announced at an event held in Riyadh to highlight the platform’s plans for Q4 2022 to its partners.Īntoine Caironi, interim regional director Twitter MENA, commented: “As a platform, we have never been more committed to growth and innovation in MENA and, with so many moments ahead of us, it is essential for brands and marketers to tap into the conversations and communities that aid brand awareness and drive performance during moments that resonate best with local audiences.” The judge sided with Twitter granting it a trial set for October. Musk's lawyers responded to Twiter's lawsuit, seeking to delay its hearing scheduled for September. This month, Elon Musk decided to back out of buying Twitter for $44 billion and subsequently was sued by Twitter. Twitter said in its earnings report that “given the pending acquisition of Twitter by an affiliate of Elon Musk, we will not host an earnings conference call, issue a shareholder letter, or provide financial guidance in conjunction with our second quarter 2022 earnings release.”Īnalysts expected Twitter earnings to come in at about $0.16 per share - a year-over-year shift of -20% - while revenues could be listed at $1.33 billion, which is up 11.8% from the same period a year ago. Operating loss amounted to $344 million, Twitter said.
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