Twitter’s Q1 2018 earnings report gave us critical insight into the world of video advertising. According to the report, video ads accounted for more than half of their $575 million advertising revenue in the first quarter alone.

Twitter experienced a year over year increase of 21 percent, split between its US market and international market. While ad revenue was up, Twitter saw its daily active user amount grow by 10 percent year over year. Twitter states,

“Value for advertisers continued to improve in Q1, driven by ongoing ad engagement growth, improved product features, better ad relevance (as measured by click-through rates (CTR) and ad engagements), and better pricing.”

The report also states that ad engagements were up 69 percent and cost per engagement dropped 28 percent compared to the first quarter of 2017. To take advantage of these new statistics, Twitter will be focusing on improving their advertising offerings, enhancements to the platform and accreditation for third-parties.

This new report shows the importance of video marketing and advertising within the digital marketing strategy.

To read the full report, visit Martech Today.

Sources: Twitter, Martech Today