Social media platform X is entering into a partnership with Paris Hilton and her digital ad agency, 11:11 Media, in a bid to rejuvenate the platform and explore new revenue streams. The collaboration will involve creating original video content on various topics such as fashion, beauty, and travel. Moreover, Hilton, a well-known media personality and socialite, will actively promote the launch of X's new products and services.
X has been actively searching for avenues of growth ever since Elon Musk took over the platform in 2022, resulting in a significant decline in advertising sales. Earlier this year, X introduced a Premium subscription plan offering additional features for a monthly fee. Musk has also expressed his vision of transforming X into an all-encompassing "everything app" inclusive of audio, video, shopping, payments, and more.
By partnering with Hilton, X aims to leverage her influence and expertise in the fashion and lifestyle industry to promote its shopping and video features. The collaboration between X and 11:11 Media will include revenue-sharing arrangements for the joint project.
Linda Yaccarino, the CEO of X, has been actively pitching new products and services that can generate revenue to brands, investors, and companies in recent months. According to reports, she has held meetings with talent agencies such as Creative Arts Agency and United Talent Agency, as well as Walt Disney Co. In July, she also met with Paris Hilton.
Yaccarino is expected to present X's financial plan to the bankers and investors who financed Musk's Twitter takeover on Thursday, as reported by the Financial Times. During the Code Conference last week, Yaccarino expressed optimism, stating that the majority of X's top advertisers have returned and that the company could potentially reach profitability by 2024.