Zinger Key Points
- LinkedIn tests Premium Company Page subscription to aid small businesses with AI content and follower growth for $99/month.
- New subscription part of LinkedIn's strategy to diversify revenue and enhance visibility, boosting premium revenue to $1.7B in 2023.
- Discover Fast-Growing Stocks Every Month
LinkedIn has begun testing a new revenue-boosting strategy for small and medium-sized businesses by introducing a Premium Company Page subscription.
For a fee that could go as high as $99 per month, this subscription offers AI-generated content, tools to increase follower counts, and other features designed to enhance a company’s visibility on the platform.
This initiative highlights LinkedIn’s effort, under Microsoft Corp’s MSFT ownership, to diversify its revenue streams and improve its overall utility, TechCrunch reports.
In 2023, premium subscription revenue increased 25%, reaching $1.7 billion of the platform’s $15 billion annual revenue.
The Premium Company Page features visitor tracking, inviting visitors to follow the page, customizable call-to-action buttons, and a prominent testimonials display.
Additionally, the subscription incorporates AI writing assistance and offers a golden badge for verified premium pages.
Recent reports indicated LinkedIn stepping into the influencer marketing arena, a space where TikTok and Meta Platforms Inc’s META Instagram have previously reigned by enabling advertisers to sponsor posts from users, including well-known creators, through its Thought Leader ads.
The platform is looking to capitalize on this vast user base for expansion, mainly as influencer marketing has emerged as a significant component of social media marketing expenditure in the U.S.. In this sector, Instagram and TikTok have traditionally excelled.
LinkedIn is also making strides into short-form video content, launching a video feed similar to TikTok’s to rival Instagram, Alphabet Inc’s GOOG GOOGL YouTube, Snap Inc’s SNAP Snapchat, and Netflix Inc NFLX.
Microsoft stock gained 44% in the last 12 months. Investors can gain exposure to the stock via SPDR Select Sector Fund – Technology XLK and Fidelity MSCI Information Technology Index ETF FTEC.
Price Action: MSFT shares traded higher by 0.86% at $418.15 premarket on the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Wikimedia Commons
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