Receive free X Corp updates
We’ll send you a myFT Daily Digest email rounding up the latest X Corp news every morning.
X, formerly known as Twitter, has signed a first-of-its-kind deal with celebrity Paris Hilton centred around live shopping and other exclusive content, as chief executive Linda Yaccarino attempts to revive the platform’s fortunes.
The two-year deal required the American socialite to work with X to create four original video programmes per year including for its nascent live shopping space, the company said. Hilton would also produce content on other X mediums such as its Spaces audio feature, it added.
A revenue-sharing agreement had been struck between Hilton’s 11:11 Media company and X, the social media platform added, describing the financial arrangement as “attractive” for both parties.
The partnership will be a test for Yaccarino, who joined the platform as chief executive in June. She is tasked with reviving revenues after many advertisers pulled their spending citing concerns over the loosening of moderation policies since billionaire Elon Musk’s $44bn acquisition of the platform nearly a year ago. Revenues were down by 60 per cent in the US, Musk said last month, although he did not specify a timeframe.
Yaccarino has been on a charm offensive, meeting Hollywood groups such as Creative Artists Agency and United Talent Agency in a bid to woo stars and influencers, and therefore users and advertisers, to the platform.
The desired partnerships are part of her strategy to boost audiences, sell more advertising, and facilitate sponsorship and brand deals between advertisers and creators.
The deal also comes after Yaccarino faced widespread criticism following a testy interview with CNBC’s Julia Boorstin at the Code Conference last week, during which she fumbled questions on X’s user metrics and insisted that she wielded power as chief executive despite repeated interference from Musk.
The same day, the Financial Times published an interview with Yaccarino in which she repeatedly dodged questions on safety and policy on the platform.
On Thursday, Yaccarino is set to meet bankers at Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho and Société Générale — the lenders that bankrolled Musk’s takeover of the platform — to lay out her vision for the company.
Social media groups including TikTok have recently invested in live shopping features in the west following success in Asian markets. However, Meta and YouTube’s experiments have met with only limited success as western consumers remain unfamiliar with the format.
X, when still called Twitter, made a foray into live shopping in 2021 that gained little traction, and now has a product allowing users to watch, talk, and shop all in the same window. The company said that while watching a livestream with Hilton on X, users would be able to browse a catalogue of products and then click through to the site selling the goods to make a purchase via its in-app browser.
X said it would work to help Hilton secure brand sponsorship for each of her programmes on the platform, including the live shopping. Her regular videos would focus on topics such as Halloween, music, motherhood and cooking, X said, while Hilton would also help the company promote new consumer products and feature releases.
In a statement, Hilton, who has 16.6mn followers on X, said: “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.”
Earlier in the year, former Fox presenter Tucker Carlson announced that he would relaunch his show on X. However Musk insisted the pair had not signed a deal, merely that Carlson would benefit from a new advertising revenue share feature for bigger influencers on the platform.
Read the full article here