(Reuters) – Microsoft Corp-owned LinkedIn said on Thursday it was working on a video advertising product that would allow marketers to target users of the professional networking site while they watch content on streaming services.
This comes after LinkedIn introduced AI features to help advertisers write ad content, part of a strategy to expand its ads business at a time when economic uncertainties have hit advertising budgets.
“In-stream video ads can change the way brands and buyers reach and engage their audiences,” Penry Price, vice president of marketing solutions at LinkedIn, told Reuters.
LinkedIn’s revenue jumped 34% to $3.5 billion last year, helped by advertising demand and a strong job market.
The company generates revenue from ad sales and subscriptions for recruiters, job seekers and sales professionals.
The Information reported the news earlier on Thursday.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Shilpi Majumdar)
