Struggling to stay afloat, Twitter has now offered skeptical advertisers a new incentive, where the micro-blogging platform will match advertisers’ ad spend of up to $250,000. According to a report in The Wall Street Journal, the platform, which was raked in by Elon Musk for $44 billion, is “hanging up free advertising space by offering to meet advertisers’ ad spend of up to $250,000.”
Citing internal emails, the report noted, “The full $500,000 in advertising should be gone by February 28. In December, Twitter offered another freebie in the form of $500,000 in free ads in exchange for spending $500,000 on the platform.” The company has been struggling to bring back advertisers to its platform, which froze spending after Musk took office and announced a number of controversial moves.
Musk lost half of the top 100 advertisers on Twitter in November, less than a month after the billionaire took over. According to Media Matters in America, 50 of the top 100 advertisers have spent nearly $2 billion on the platform since 2020, and more than $750 million on advertising in 2022 alone.
The report follows a number of large companies that could be considered “silent” that are slowly pulling advertising spend from social platforms. The micro-blogging platform recently announced that it plans to “expand” political advertising “in the coming weeks”.
The platform announced from its Twitter Safety account that it is relaxing the advertising policy for cause-based ads in the US.
Musk recently announced that users can swipe right or left to move between recommended versus followed tweets, and long-form tweets will be coming in early February. This marker is part of the user interface (UI) overhaul he has been planning since taking over Twitter. “Easier right/left swipes to move between recommended vs. followed tweets will roll out later this week,” Musk said in a tweet.
The feature is “the first part of a much bigger UI overhaul”. The bookmark button on tweet details will roll out a week later this month, he added. Musk posted, “Long form tweets in early February.” Twitter is also rolling out a much-talked-about feature that will help users find specific tweets and profiles by filtering them based on date, user, retweet count, hashtags, and more.
With inputs from IANS
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