Twitter aims to be 'most accurate real-time information source'

Twitter is on a mission to become the world’s “most accurate real-time information source and a global town square for communication”, the social media platform’s new chief executive has said.

“That’s not an empty promise,” Linda Yaccarino, previously the head of advertising at NBC Universal, said in a tweet on Monday.

She began her new role with the social media company on June 6 after taking over from billionaire Elon Musk.

Mr Musk, who took on the role after acquiring the social media platform for $44 billion in October, was asked by a majority of Twitter users to step down as chief executive in a poll he conducted about six months ago.

He said he would spend more time on product design and new technology for the platform while Ms Yaccarino focuses on business operations.

Ms Yaccarino has been given the task of revitalising Twitter’s revenue streams.

Two months after Mr Musk said the company was “breaking even”, Twitter’s advertising revenue in April was down 59 per cent from a year ago, the New York Times reported.

Citing an internal presentation, the Times reported that the microblogging platform had often fallen short of its weekly sales projections.

“Have you ever been talking with someone particularly insightful and thought you should have the freedom to speak your mind? We all should. Enter Twitter 2.0,” Ms Yaccarino tweeted on Monday.

“It’s also becoming clear that the global town square needs transformation – to drive civilisation forward through the unfiltered exchange of information and open dialogue about the things that matter most to us.

“We have the opportunity to reach across aisles, create new partnerships, celebrate new voices, and build something together that can change the world. From what I can tell so far, we’re built for this.”

Ms Yaccarino added that the success of Twitter 2.0 was everyone’s responsibility.

“We need to think big. We need to transform. We need to do it all together,” she tweeted.

“Our first principles are questioning our assumptions and building something new from the ground up.

“It’s rare to have the chance to put a new future into the hands of every person, partner and creator on the planet.

“That’s exactly why I’m here – with all of YOU.”

After acquiring Twitter in October, Mr Musk, who also owns Tesla, made a series of changes during a turbulent time for the company.

Within the first two weeks, he laid off half of the company’s staff and fired former chief executive Parag Agrawal, as well as other senior leaders in the company.

The billionaire businessman had previously complained of working long hours as the boss at Twitter and other companies.

His ownership of the social media platform has also been criticised over changes including paid subscriptions for verification status, a “For You” newsfeed and the reinstatement of controversial accounts such as that of former US president Donald Trump.

Ms Yaccarino joined NBCUniversal in 2011 after about two decades at Turner Entertainment.

In her role at NBCUniversal, she headed the $70 billion premium video ecosystem and was responsible for overseeing its portfolio of linear networks, digital and streaming platforms, distribution partnerships and client relationships.

Ms Yaccarino oversaw all global, national and local advertising sales, partnerships, marketing, data, measurement and strategic initiatives.

Since joining NBCUniversal, her 2,000-member team generated more than $100 billion in advertising sales, expanded the company’s reach globally, launched the first advertisement-supported streaming service, Peacock, and made massive investments in data and technology capabilities.

She also led partnerships with technology companies such as Apple News, Buzzfeed, Holler, ReachTV, Snapchat, Twitter and YouTube.

Ms Yaccarino also chairs the World Economic Forum's task force on the Future of Work and is also a member of the WEF's Media, Entertainment and Culture Industry Governors Steering Committee.