Elon Musk has indicated that X could introduce a CTV app as early as this week, as the business once known as Twitter aims to compete with YouTube.
Inside sources broke the news first, before Musk announced on X that the app was “coming soon”. The entrepreneur has been open about his desire to transform the social media company into a “video-first platform” to compete with YouTube and TikTok.
According to Fortune, the app will be accessible for Amazon and Samsung smart TVs. The insider stated that the application appears “identical” to the YouTube app, and that Musk was “set on competing with YouTube.”
READ MORE: Elon Musk Reportedly Wants To Transform X Into The New YouTube With A Major Announcement Next Week
Musk originally hinted at the possibility of an X smart TV app in July 2023, when the business claimed that vertical video accounted for more than 10% of time spent on its platform. Since Musk’s takeover, the company has increased the maximum duration of films, allowing paid-up subscribers to upload videos up to two hours long.
And the corporation has attempted to market itself as a video destination by commissioning original programming, primarily from notorious television personalities such as Tucker Carlson and Don Lemon. X has also attempted to entice influencers to join the site, citing their massive viewership.
READ MORE: X (Twitter) Collaborates With Google Ad Manager
MrBeast, a YouTube star, claimed in January that a video he shared on X garnered $250,000 in earnings. The creator and other observers were quick to point out that the unusual conditions meant the figures were unlikely to be reflective of video monetisation on the platform.
Regardless, video-sharing companies are focusing on longer videos, which produce more ad income. According to an X source, Musk wanted to promote “long videos on a bigger screen.” The idea appears to compete with TikTok’s new monetization model, which encourages producers for producing longer-form content.
READ MORE: MrBeast Tests Posting Videos On X As Elon Musk Attempts To Take On YouTube And Twitch
The shift to TV viewing also challenges YouTube’s living room dominance. According to Nielsen, YouTube is the most popular streaming service in the United States, accounting for 8.6 percent of television viewing in January 2024. According to YouTube, the number of top creators who obtained the majority of their views on television screens climbed by more than 400 percent over the last three years.
From an advertising standpoint, X hopes that the linkage of TV displays with premium content will make the app a desirable investment for advertisers. This is of particular concern to the corporation, which has been losing high-profile sponsors due to brand safety issues on its social media platforms. According to the most recent appraisal by Fidelity, a significant shareholder in X, the company has lost 71.5 percent of its value since Musk acquired it.
It remains to be seen whether X’s move to television will pay dividends. It’s worth mentioning that YouTube has its own history of brand safety infractions, which appear to have had no impact on ad income. However, stealing share from YouTube may prove difficult. While Musk’s “free speech absolutist” stance appeals to some news presenters and their audiences, major marketers find it more difficult to sell the same ideas.
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