X signss live shopping deal to help revive its fortunes

X (formerly Twitter) has signed a deal that is a first of its kind with Paris Hilton. The agreement will focus on live shopping, exclusive content and other features. This comes as Linda Yaccarino, the chief executive, tries to revive X’s fortunes.

According to the company, under the terms of the two-year contract, Hilton would be required to produce four original video programs per year for X’s nascent online shopping space. Hilton will also create content for other X mediums, such as the audio feature Spaces.

The social media platform X said that a revenue-sharing deal had been reached between Hilton’s company 11:11 Media and X. It described the financial arrangement for both parties as “attractive”.

This partnership will be Yaccarino’s first test since joining the platform in June as CEO. She has been tasked with reviving revenue after advertisers halted their spending due to concerns about the loosened moderation policies following Elon Musk’s $44bn purchase of the platform almost a year ago. Musk stated last month that revenues in the US were down 60 percent, but he didn’t specify a timeline.

Yaccarino is on a charm-offense, meeting Hollywood agencies such as Creative Artists Agency, United Talent Agency, in an effort to attract stars and influencers to the platform, and thus users and advertisers. The desired partnerships are part of her strategy to boost audiences, sell more advertising, and facilitate sponsorship and brand deals between advertisers and creators.

This deal comes also after Yaccarino received widespread criticism for a testy conversation with CNBC’s Julia Boorstin during the Code Conference, where she stumbled over questions about X’s metrics and claimed that she was in charge despite Musk’s interference.

On the same day it published a interview of Yaccarino, in which she dodged repeatedly questions about safety and policy.

Yaccarino will meet with bankers on Thursday at Morgan Stanley and Bank of America. She’ll also visit Barclays, MUFG BNP Paribas Mizuho, Societe Generale, BNP Paribas .

Following the success of live shopping in Asian markets, social media groups such as TikTok invested in western markets. Meta and YouTube have had limited success with their experiments, as western consumers are still unfamiliar with this format.

X was still known as Twitter in 2021, but it made a move into live shopping that failed to gain traction. Now, the company has a new product that allows users to talk, watch and shop in one window. While watching a Hilton livestream on X users can browse a catalog of products, and then click to the website selling the product to make a sale via the in-app web browser.

X stated that it would help Hilton to secure brand sponsorships for all of her programs on the platform including live shopping. Her regular videos will focus on Halloween, music and motherhood, X stated, while Hilton will help promote new consumer products.

Hilton, who boasts 16.6mn fans on X, stated in a press release: “Together we will be exploring new ways of connecting with you all across video, Live Video, live shopping and even Spaces. And we’re just getting started. “Loves it.”

Earlier this year, Tucker Carlson, a former Fox host announced he was relaunching his show on X. Musk, however, insisted that the two had not signed any deal. He said Carlson would only benefit from the new advertising revenue sharing feature for the platform’s biggest influencers.