But, revenue at the Microsoft-owned network has lagged.
User engagement on LinkedIn has surged amidst the COVID-19 pandemic, propelled by people seeking jobs and expanding their professional skills. According to the professional networking site, it now has 690 million users from across 50 million companies worldwide.
New tools like LinkedIn Live and LinkedIn Learning has helped drive a 26% rise in sessions for the last quarter. But, the increased engagement during the quarantine has not translated into more revenue for the platform.
Revenue in the last quarter rose by 21%, as compared to a year ago when revenue grew 27%, and sessions rose 24%. The decline stems from users engaging less with paid content along with reduced social media ad spend from businesses. This piece contends that reduced ad-spend and high engagement levels make it the perfect time for companies to get into paid social media advertising.
[2 minute read]