X Betting On New Shopping Deal With Paris Hilton
X, aka Twitter, is betting on a new 2-year partnership with celebrity Paris Hilton to resuscitate the social platform’s shrinking revenue with a different type of user engagement concentrated on live shopping and other exclusive content.
The American celebrity was signed on to collaborate with X to produce four original video programmes per year for its emerging live shopping space and to create more content for additional X mediums, such as its Spaces audio feature.
Within the contract, revenue-sharing will occur between X and Hilton’s 11:11 Media company, which X depicted the agreement as “attractive” for both parties.
The partnership between Hilton and X will be crucial for Chief executive Linda Yaccarino as she shows her metal as the driving force behind the struggling social media platform, who has only been there three months.
After Elon Musk acquired X for $44 billion about a year ago, U.S. advertising revenues show a decline of 60% due to advertiser worry over the controversial owner’s decisions and adjustments to platform policies, which Yaccarino is tasked to address while also jumpstarting revenue.
According to sources, Yaccarino wants to entice big celebrities and influencers for deals by meeting with Hollywood groups such as Creative Artists Agency and United Talent Agency to get advertising back on track.
Yaccarino’s presence at X was always going to be under the microscope, but the deal comes after she experienced much criticism after a CNBC interview where she bungled her answers on X’s user metrics and asserted her authority as chief executive was not challenged by Musk even though he frequently has interfered.
Additionally, she interviewed with The Financial Times, and this time, she again and again ducked subjects surrounding X policy and safety.
Soon Yaccarino will be sharing what she believes the future of the company will look like with the banks who financed Musk’s Twitter acquisition: Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho and Société Générale.
Shopping experiences like that of what Hilton will be producing have been met with limited success, primarily in Asia, while Western countries have yet to engage.
For the new partnership, Hilton on X will be a livestream where users can peruse a directory of products, enabling consumers to click to purchase.
“Together, we’re going to be exploring new ways to connect with all of you across video, live video, live shopping, and even Spaces. And we’re just getting started. Loves it,” Hilton, who has 16.6mn followers on X, commented.