The Twitter Q1 2021 Report highlights significant updates for brands and advertisers, the platform’s expectations for the next quarter and the financial year, and more.
The Twitter Q1 2021 Report also underlines the platform’s new offerings, advertising formats, and changes rolled out in accordance with the privacy update by Apple on its operating systems.
Jack Dorsey, CEO, Twitter mentions, “People turn to Twitter to see and talk about what’s happening, and we are helping them find their interests more quickly while making it easier to follow and participate in conversations. Average monetizable DAU (mDAU) reached 199 million, up 20% year over year and up 7 million sequentially, driven by ongoing product improvements and global conversation around current events”.
Ned Segal, CFO, Twitter says, “Q1 was a solid start to 2021, with total revenue of $1.04 billion up 28% year-over-year, reflecting accelerating year-over-year growth in MAP revenue and brand advertising that improved throughout the quarter. Advertisers continue to benefit from updated ad formats, improved measurement, and new brand safety controls, contributing to 32% year-over-year growth in ad revenue in Q1”.
- Q1 revenue totaled $1.04 billion, an increase of 28% year-over-year
- Advertising revenue totaled $899 million, an increase of 32%, or 30% on a constant currency basis. Total ad engagements increased 11% year-over-year
- Average monetizable daily active users (mDAU) were 199 million for Q1, compared to 166 million in the same period of the previous year and compared to 192 million in the previous quarter
- Spaces expanded to Android in Q1 and Twitter began shipping weekly iOS updates
- The platform began testing ways to improve how people share and view media on Twitter, including 4K image uploading and viewing capabilities
- Twitter launched Curated Categories and a new campaign setup experience for advertisers in Q1, in an effort to make publisher pairing easier and more intuitive
- In preparation for privacy changes related to Apple’s iOS 14.5 update, the platform expanded the integration with SKAdNetwork, Apple’s proprietary measurement solution, to support view-through attribution at the campaign level
- In Q1, Twitter received the Trustworthy Accountability Group (TAG) Brand Safety Certified Seal, affording advertisers and agencies the assurance that Twitter has been independently audited to ensure compliance with TAG’s guidelines
- For Q2 2021, Twitter expects total revenue to be between $980 million and $1.08 billion, and potential mDAU growth rates in the low double digits on a year-over-year basis in Q2, Q3, and Q4
- For FY 2021, Twitter expects total revenue to grow faster than expenses (assuming the pandemic continues to improve and they see a modest impact from the rollout of changes associated with iOS 14.5)