Musk’s Twitter continues its downward spiral. The last? The platform offers advertisers up to $250,000 in a desperate plea for ad buyers to return, reports The Wall Street Journal.
In order for brands to cash in on the incentive, the full $500,000 worth of advertising must run by February 28. And this isn’t Twitter’s first attempt to lure advertisers back, in December Twitter offered $500,000 in free advertising to brands that spent $500,000 with a $1 million cap.
Twitter should benefit from adult content
The social media platform has lost many of its top advertisers since Musk took over, a huge blow when you consider that 90 percent of Twitter’s revenue comes from advertising. Media Matters reported in November, just a month after Musk’s reign began, that 50 of the top 100 advertisers have fled the platform. Some advertisers quietly reduced their ad spend, while others, such as Chevrolet, Chipotle, Ford and Jeep, issued statements about their decision to leave.
Twitter also announced it will allow political ads back on its platform after banning them in 2019, further evidence of Twitter’s desperation for ad revenue.
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Before you know it, Twitter will be turning on sign-twirlers to get advertisers back.