LinkedIn works on new ad product for video streaming services

LinkedIn announced on Thursday that it will soon start testing a new video advertising product that will enable markets to reach its users as they watch content on video streaming services.

In a statement to Reuters, Penry Price, LinkedIn’s VP of Marketing Solutions, said that ‘’in-stream video ads can change the way brands and buyers reach and engage their audiences’’.

The move could give a significant boost to the company’s advertising business which accounts for the majority of its total revenue. 

The Microsoft-owned company saw $13.8 billion in revenue in 2022, up nearly $8 billion from the previous year.

Also Read: LinkedIn Revenue and User Statistics (2023)

To boost its ad revenue, the company recently introduced its new advertising solutions that utilize the generative AI technology to let advertisers prepare ad content in an easier and faster way.

Meanwhile, last month, LinkedIn laid off 716 employees and announced the shutdown of its local jobs app ‘’InCareer’’ in China due to the challenging global economic conditions.