June 15 (Reuters) – Microsoft’s (MSFT.O) LinkedIn said on Thursday it is developing a video advertising product that will allow marketers to target users on professional networking sites who watch content on streaming services. announced that they are working on it.
This comes after LinkedIn introduced AI capabilities to help advertisers create ad content as part of a strategy to expand its advertising business as economic uncertainty hits advertising budgets. .
“In-stream video advertising has the potential to change the way brands and shoppers reach and engage with their audiences,” Penry Price, vice president of marketing solutions at LinkedIn, told Reuters.
LinkedIn has over $14 billion in revenue over the last 12 months, growing 8% year-over-year as of the third quarter of fiscal year 2023.
The company generates revenue from advertising sales and subscriptions for recruiters, job seekers and sales professionals.
The Information newspaper reported the news early Thursday.
(This article has been corrected to say “Over the past 12 months, revenue has exceeded $14 billion” instead of “Revenue jumped to $3.5 billion last year” in the fourth paragraph.)
Reported by Jaspreet Singh of Bangalore.Editing: Sirpi Majumdar
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