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Twitter’s CEO, Linda Yaccarino, recently visited Hollywood to impress talent agencies and entertainers following the corporate rebranding of the social media app to X, announced by owner Elon Musk. Yaccarino met with agents at Creative Artists Agency and United Talent Agency in Los Angeles, where she presented her vision for X, aiming to attract stars and influencers across various industries, including cooking, music, and sports. The goal of this effort is to further expand Twitter’s reach into video, audio, and other areas. However, there are concerns that this sudden rebranding may have negative effects on the platform’s brand equity.
During the meeting with CAA, Yaccarino encouraged agents to envision what they would want from X, promising that Twitter would try to build it. She also proposed the idea of brands sponsoring events on Twitter’s audio feature, Spaces, with celebrities or influencers. The talent agency agreed to return with ideas for potential partnerships. Both Twitter and the talent agencies declined to comment on the meetings.
One of Twitter’s motivations for attracting high-profile names is to increase advertising opportunities and facilitate brand deals between advertisers and creators. Yaccarino, known for her extensive relationships within the media industry, has been connecting with celebrities since she assumed her role as CEO. A potential partnership with Paris Hilton was hinted at when Yaccarino posted a photo with the celebrity. In addition, former Fox News anchor Tucker Carlson already has a show on Twitter.
To support features beyond its text-based communications, Twitter recently launched a creator advertising revenue share initiative, allowing influencers who meet specific criteria to directly profit from the platform. However, these attempts have faced challenges, particularly due to workforce reductions under Musk. For example, a Twitter Spaces audio session in May, where Florida governor Ron DeSantis announced his entry into the 2024 presidential race, encountered technical glitches.
Twitter’s rebranding as X has caught advertisers by surprise, many of whom have already left the platform due to Musk’s unconventional leadership style, relaxed content moderation, and cost-cutting measures since acquiring it. The responsibility of repairing and establishing relationships within the entertainment industry now falls on Yaccarino. In a tweet, she shared her vision for the platform: “X is the future state of unlimited interactivity — centered in audio, video, messaging, payments/banking — creating a global marketplace for ideas, goods, services, and opportunities.”
Despite this, some advertisers and talent agencies remain unimpressed with the rebranding, expressing doubts about Musk’s decision-making. One advertising executive described the unveiling of X as “nonsense” and questioned Yaccarino’s ability to handle the situation. Another advertising agency executive raised concerns about the purpose of the acquisition and wondered how much longer investors would remain patient.
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