• by Karl Greenberg , September 28, 2010

Twitter COO Dick Costolo said at the MIXX IAB conference that he sees TV spend moving to social apps. and that the company will "very soon" see advertisers spending millions on the social platform

Costolo says Twitter gets 370k new users per day. "We grew 30% in Mexico in one week," he says, adding that engagement on Twitter is "orders of magnitude" above that on other media. the company is touting Promoted Tweets at the IAB this week, and costolo says the product, which moves advertisers position on search lists to the top can bring 5% engagement rates for promoted tweets.

"We have cracked the code on new type sof advertising and now we know it's working across industry verticals," said Costolo.