Updated from 10:39 a.m. to include analyst commentary.

NEW YORK (TheStreet) -- Twitter (TWTR - Get Report) today announced that it is expanding and rebranding its programs for advertising off of Twitter's platform.

The program, which used to be called Twitter Publisher Network, is now being called Twitter Audience Platform and will allow brands to feature promoted tweets within other apps. Twitter first launched its Publisher Network last year to help advertisers expand their reach beyond Twitter, and today the program is being expanded in two ways.

First of all, advertisers will now have the ability to drive tweet engagements and video views, not just mobile app installs and re-engagements, which were previously the only two objectives offered to advertisers. Twitter said it also plans to add two more objectives over the next few months: website clicks and conversions.

Second, Twitter has launched new creative formats for its clients. For example, engagement campaigns on Twitter become interstitial and native ads, while promoted video campaigns are turned into in-app video ads. 

While originally, only certain brands could use these ads, now all brands can use them to drive tweet engagements and video views. Mobile app installs and re-engagements are still only available to select advertisers.

Any consumer who views a Twitter ad in any app will be able to retweet or favorite the promoted tweet directly from the in-app ad. They can also click on customizable call to action buttons such as "Shop Now."

The expansion of Twitter's Audience Platform follows Twitter's efforts to add more commerce functionality to its Promoted Tweets with Buy Buttons. The hope with all of these launches is to make advertisements on Twitter more attractive to advertisers so that Twitter can grow its ad revenue.

"Extending the reach of Twitter data and ads to other apps (and potentially websites) is a natural extension of their advertising platform, and fully expected by the advertising industry," R.W. Baird analyst Colin Sebastian said in an email. "It is similar to what Google (GOOG - Get Report) has done for years (AdSense, DoubleClick) and what Facebook (FB - Get Report) started to do last year." 

With the extended reach of the Audience Platform, for instance, advertisers doubled their reach and lowered their cost per engagement by as much as 30%, according to Twitter. Twitter also found that users spent 123% more time with the Twitter Audience Platform ads compared to traditional mobile interstitial ads.

These kinds of numbers could attract more advertisers to Twitter's offerings and boost the company's performance as Wall Street anxiously awaits the company's turnaround.

It's unclear though how much these advertising efforts will actually impact Twitter's overall business.

"The issue Twitter faces in competing in this market is similar to the issues advertisers have on Twitter: less scale and reach than Google or Facebook," Sebastian said. "However, this is clearly an incremental revenue opportunity here, but it's not likely this will move the needle much in the near term, and will be overshadowed by the ad business on the core Twitter app."