Elon Musk’s X plans to launch a TV app for Amazon and Samsung smart TVs next week, Fortune reports, citing an unidentified person at the social media company.
Musk’s goal is to encourage users to watch longer videos on larger screens as he prepares to compete with YouTube, the person said. The new app looks “identical” to YouTube’s TV app, the person added.
Live-streaming platform Twitch, encrypted messaging app Signal and social media forum Reddit are among other services Musk plans to compete with, according to Fortune.
X hopes to attract creators and challenge YouTube with new ad targeting
Elon Musk’s X is adding new advertiser targeting features to better attract video creators and compete with YouTube.
Starting later this month, social network X (formerly Twitter) will allow advertisers to place ads before videos from creators of their choice, the company said in a statement on Monday. Advertisers can place ads on the main timeline and on creators’ profiles.
The new ads will include revenue sharing, giving X’s 80,000 creators another way to make money with their videos. A spokesperson for X declined to disclose the percentage of ad revenue it will share with creators. The company previously said it had paid more than $20 million. Google’s YouTube offers creators 55% of the advertising revenue associated with their videos.
In recent months, Musk has tried to push the company toward more premium video content by adding partners, including former CNN host Don Lemon and World Wrestling Entertainment, to produce programming on the service. He has repeatedly expressed his hope that X will compete with YouTube and has contacted some creators directly. Last month, he praised YouTube star Jimmy Donaldson (known as MrBeast to his followers) for posting his first video on X.
Musk’s efforts are part of an effort to lure marketers back after his chaotic acquisition of the platform caused ad revenue to drop more than 50%. Ad sales last year were estimated at about $2.5 billion, falling short of the company’s $3 billion goal, according to Bloomberg.
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