The Twitter IPO valuation just went up
Twitter just added one of its biggest partners yet to its Amplify advertising program in the form of CBS.
CBS plans to use the service to advertise 42 products, including TVGuide.com and its popular fantasy football website, The New York Times reported Monday.
For Twitter, Amplify has seen more than a dozen content distributors sign on since last year, including ESPN, Ford Motor Company and Fox television network.
The advertising revenue stream is increasingly important to the social media company, which plans to go through an initial public offering in the coming months. Potential investors will be able to see Twitter's financials for the first time.
As for the benefits for CBS: According to Twitter, users who saw a TV commercial and then engaged with a Twitter ad for the same product indicated they were 58 percent more likely to buy it than people who saw just the television ad.
“By adding Twitter to your buy, you will sell more stuff,” a Twitter executive told The New York Times.