X Challenges YouTube With New Ad-Targeting Features
Vancouver, BC
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February 22, 2024 08:30 AM Eastern Standard Time
Elon Musk's X is rolling out enhanced advertiser targeting features to attract video creators and compete more effectively against YouTube.
X, formerly known as Twitter, revealed that advertisers will soon be able to run ads before videos from their chosen creators, starting later this month.1
These new ads will be available in the main timeline as well as on a creator's profile, offering X's 80,000 creators an additional way to monetize their videos through a revenue-sharing model.
While X declined to disclose the exact percentage of ad revenue it will share with creators, the move aligns with its efforts to support creators financially, having previously paid out over $20 million. For comparison, Google's YouTube typically gives creators a 55% share of ad revenue related to their videos.
In recent months, Musk has been steering X towards a focus on premium video content by partnering with notable figures like former CNN host Don Lemon and World Wrestling Entertainment to produce shows for the platform. Musk has expressed his ambition for X to rival YouTube and has personally reached out to some creators.
Last month, Musk praised YouTube star Jimmy Donaldson, known as MrBeast, for posting his first video on X.
Musk's efforts are aimed at regaining marketers' trust after his tumultuous takeover of the platform led to a decline of more than 50% in advertising revenue. Last year, ad sales were estimated to be around $2.5 billion, falling short of the company's $3 billion target, as reported by Bloomberg.
Over the past decade, advertising budgets have shifted from cable TV to online platforms due to changes in consumer behavior and technology. Online ads offer better targeting, flexibility, and cost-effectiveness, driving brands to connect with audiences digitally.
This new industry has also turned the spotlight on streamers, particularly those streaming video game-related content.
Right now, Gen Z and Gen Alpha are spending roughly 20% of their free time playing video games or watching streamers play.2 That number is expected to continue rising as current players grow up and new generations enter the gaming world.
As viewers continue turning their attention towards streamers, the industry is growing like wildfire and Canada's premier esports titan OverActive Media (TSXV:OAM) (OTC:OAMCF) is staking its claim on the growing audience.
OverActive Media is building an integrated global sports, media and entertainment company for today’s generation of fans, with a focus on esports, video games, live events and content creation.
Building an Entertainment Powerhouse for Today’s Generation of Fans
OverActive Media (TSXV:OAM) (OTC:OAMCF) owns and manages team franchises in professional esports leagues, including the Toronto Ultra in Call of Duty League, the MAD Lions for the League of Legends EMEA Championship and the Toronto Defiant in the Overwatch Champion Series.
Last month, OverActive Media increased its position in the market through the acquisition of two of the most popular esports teams, KOI and Movistar Riders.
The deal, which is the largest in the company’s history, broadens OverActive Media’s (TSXV:OAM) (OTC:OAMCF) global footprint to fast-growing international markets and is expected to bring in an additional $10 to $12 million in annual revenues. The acquisition also includes a diverse range of top-tier Esports assets and a powerhouse of social media clout including over 100 million dedicated followers.
KOI is a major European Esports franchise co-founded by streamer superstar Ibai Llanos, one of the Top 5 Streamers in the World3 and former FC Barcelona football legend Gerard Piqué. Movistar Riders is a leading Esports club in Spain that boasts a multi-year partnership with Spanish multinational telecommunications company Telefónica.
Since the acquisition of KOI, OverActive Media (TSXV:OAM) (OTC:OAMCF) has experienced a surge in viewership across its gaming franchises, including League of Legends, VALORANT, Counter Strike 2, and Call of Duty.
When the newly formed Mad Lions KOI team kicked off the League of Legends EMEA Championship (LEC) Winter Split in January, their regular season match reached 741,000 peak viewers, making it the most watched LEC match since summer 2021. KOI co-founder Ibai also contributed to this growth, generating over 4.7 million views on Twitch during a single MAD Lions KOI game in January. This viewership beat the finale of Succession, the Emmy-winning HBO series that drew 2.93 million viewers across all platforms on its debut night.
The team set another record during the League of Legends EMEA Championship (LEC) on February 18, with 830,816 viewers tuning in, marking the highest viewership for a regular season match in LEC history. In comparison, NHL games are averaging 471,000 viewers.
The extended multi-year agreement with Telefonica stands as OverActive Media's largest financial partnership, signaling strong confidence and stability.
With backing from renowned brands and personalities like Bell, Kappa, Red Bull, TD, Razer, SCUF, AMD, Ibai Llanos, and Gerard Piqué, OverActive Media's partnership portfolio is both impressive and strategic.
OverActive Media maintains a healthy balance sheet with a strong cash position of C$9.7 million with no debt, and that doesn’t even include the C$8.3 million from its Overwatch League exit - a combined impact of C$18 million.
Click here for more information about OverActive Media (TSXV:OAM) (OTC:OAMCF).
[1] https://mybroadband.co.za/news/internet/524820-x-takes-aim-at-youtube-with-new-ad-targeting-features.html
[2] https://newzoo.com/resources/blog/how-and-why-different-generations-engage-with-video-games-in-2023
[3] https://goombastomp.com/top-5-twitch-streamers-with-the-most-instagram-followers/
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