In an interview with The New York Times, Twitter CEO Dick Costolo addresses whether the micro-blog is a media or technology company, describing it as some variation of both.
“I think of the company as a technology company that is in the media business,” says Costolo. “Our business is an advertising business, we don’t sell technology… I don’t need to be or want to be in the content business.”
Instead of encouraging external Twitter apps, Costolo is building a Twitter platform with its own API.
In a recent example, Twitter featured tweets from Pocono 400 drivers and teams last month. “The NASCAR-branded page that Twitter highlighted in television ads was incredibly visceral, with pictures from inside driver’s cars. Fans could practically smell the fuel from the pit,” notes NYT.
Twitter has announced a similar page for the Olympics.
Engagement rates with ads especially on mobile have been better than with traditional Web ads.
“Our vision for the company is simple: Twitter brings you closer,” concludes Costolo. “You can say something now and broadcast and everyone around the world sees it immediately.”
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