FINANCIAL TIMES - LinkedIn is experiencing a surge in demand for its advertising services, resulting in higher ad prices on the platform. Advertisers are reportedly reallocating spending from Elon Musk's X, leading to increased competition and auction-driven ad prices on LinkedIn. LinkedIn saw its annual advertising revenues rise to ~$4B in 2023, marking a 10.1% YoY increase. As more big brands reportedly abandon X, LinkedIn is positioned to benefit from its improved targeting capabilities and a more favorable brand environment. The platform plans to extend its reach beyond LinkedIn by testing services targeting individuals on connected TV apps and introducing premium advertising slots.
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