On Thursday, the professional networking website LinkedIn, which is owned by Microsoft Corp., said that it was working on a video advertising solution that would enable advertisers to target users of the website while those users were watching material on streaming services.
This comes after LinkedIn added AI tools to assist marketers in writing ad content. This was done as part of a strategy to boost LinkedIn’s advertisements business during a period when economic uncertainty has caused advertising spending to decrease.
“In-stream video ads can change the way that brands and buyers reach and engage their audiences,” LinkedIn’s Vice President of Marketing Solutions, Penry Price, is quoted in this article.
As of the third quarter of the fiscal year 2023, LinkedIn’s revenue climbed by 8% year-over-year, bringing the company’s total revenue to more than $14 billion for the trailing 12 months.
The firm makes money through the selling of advertisements and membership subscriptions to sales professionals, those looking for jobs, and recruiters.
The information was initially shared by The Information on Thursday morning.