Paris Hilton signs with X to create live shopping – 10/02/2023 – Tech

The social network X, formerly Twitter, signed a contract with socialite Paris Hilton for the celebrity to create the live shopping channel, as well as exclusive video programs and content for other media.

The intention is to use the image of Paris Hilton so that X can recover the financial losses it has suffered in recent times. In September, the owner of the social network, Elon Musk, stated that the company lost US$40 billion in market value.

The agreement with the famous socialite is for two years. The value was not disclosed, but X reported that it was “attractive” for both parties.

The partnership will be a test for Linda Yaccarino, who took over as CEO of the platform in June. It is tasked with reviving revenue after many advertisers reduced their spending citing concerns about the relaxation of moderation policies since Musk acquired the platform. According to the CEO, revenues fell 60% in the USA.

The two-year deal required the American socialite to work with X to create four original video shows per year, including for its in-development live shopping space, the company said. Hilton would also produce content across X’s other media, such as its Spaces audio feature, she added.

Yaccarino attended meetings with Hollywood groups such as Creative Artists Agency and United Talent Agency in an attempt to attract stars and influencers, and therefore users and advertisers, to the platform.

The desired partnerships are part of its strategy to grow audiences, sell more advertising, and facilitate sponsorships and brand deals between advertisers and creators.

The deal also comes after Yaccarino faced widespread criticism following a tense interview with CNBC’s Julia Boorstin at the Code Conference last week, during which she struggled to answer questions about X’s user metrics.

The same day, the Financial Times published an interview with Yaccarino in which she repeatedly avoided questions about security and politics on the platform.

On Thursday, Yaccarino is expected to meet with bankers from Morgan Stanley, Bank of America, Barclays, MUFG, BNP Paribas, Mizuho and Société Générale — the lenders that financed Musk’s acquisition of the platform — to present his vision for the company.

Social media groups including TikTok have recently invested in live shopping channels following the tool’s success in Asia. However, the Meta and YouTube experiments have only had limited success, as Western consumers are not yet familiar with the format.

AX, when it was still called Twitter, invested in the area in 2021, but had little impact, and now has a product that allows users to watch, chat and shop in the same window. The company said that when watching a live stream with Hilton on X, users could browse a catalog of products and then click on the website selling the products to make a purchase through their in-app browser.

AX said it will work to help Paris Hilton secure brand sponsorship for each of her programs on the platform, including live shopping. Its regular videos would focus on themes such as Halloween, music, motherhood and cooking, X said, while Hilton would also help the company promote new consumer products and feature launches.

“Together, we’re going to explore new ways to connect with all of you through video, live video, live shopping, and even Spaces. And we’re just getting started. I love it,” said Paris Hilton, who has 16.6 million followers on X.