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Photo by studioEAST/Getty Images

LinkedIn, the business and employment network, says it expects to bring in roughly $2 billion from its media business — mostly via ad revenue — by the end of this fiscal year.

Why it matters: LinkedIn has been hesitant to reveal specific revenue numbers around its media efforts since it was acquired by Microsoft in 2016, but is doing so now to highlight the growth of its ad business, which can be in part attributed to user engagement.

Between the lines: The projected $2 billion revenue figure for LinkedIn's media business means the professional network site will bring in roughly one quarter of Microsoft's $8.16 billion in ad revenue, per eMarketer.

The details: LinkedIn announced a few product updates Tuesday that it says will continue to drive engagement with its News Feed, including revamped Pages that are built to foster active communities and conversations on LinkedIn.

The bigger picture: LinkedIn product updates, including changes to Pages and the LinkedIn news feed, have driven user engagement on the platform.

  • In total, LinkedIn says it generates more than 2 million posts, videos and articles in the feed per day.
  • And close to 30 million brands, institutions and organizations, from small businesses to large enterprises, have Pages on LinkedIn.

Bottom line: "Momentum in the consumer ecosystem is driving marketing solutions and ad revenue," says Tomer Cohen, VP of Products at LinkedIn.

Go deeper

40 mins ago - Health

CDC director says COVID-19 messaging should have been clearer

Rochelle Walensky. Photo: Stefani Reynolds-Pool/Getty Images

Rochelle Walensky, director of the Centers for Disease Control and Prevention, said in an interview with the Wall Street Journal that the messaging around the COVID-19 pandemic and changing guidance should have been clearer.

State of play: Walensky is being coached by media experts and is planning to have more press briefings by herself in order to ensure that CDC is seen as an independent, scientific entity, rather than as a political one, the Journal reports.

58 mins ago - World

UAE asks U.S. to reinstate Houthi terrorist designation after attack

Secretary of State Tony Blinken (left) listens to United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed al-Nahyan during a joint news conference at the State Department iin October. Photo: Andrew Harnik/Pool/AFP via Getty Images

Emirati Foreign Minister Abdullah Bin Zayed asked Secretary of State Tony Blinken in a phone call Monday to re-designate the Houthi rebels in Yemen as a terrorist organization, a senior Emirati official told Axios.

Why it matters: Less than a month after he assumed office, President Biden rolled back the Trump administration’s decision to make the designation. He said it hampered humanitarian assistance to the Yemeni people. Since then, the Houthis have escalated their attacks against Saudi Arabia and other countries in the region — including an attack Monday in Abu Dhabi.

Updated 1 hour ago - Economy & Business

World Bank: Gap between rich and poor countries is widening

Illustration: Sarah Grillo/Axios

For the last two decades, incomes in poorer countries were catching up to rich countries. The pandemic economy of the 2020s may reverse the trend, the World Bank warns in a new report.

Why it matters: Falling inequality between countries has been one of the most positive trends of the 21st century. If it reverses, it implies more human suffering and geopolitical instability.