According to emails viewed by the Wall Street Journal, Twitter last week started providing select marketers with discounted rates on video ads that play next to a list of popular topics on the platform’s “Explore” page.
The platform, which last week changed its logo to X, is providing a 50% off any new bookings of those ads until July 31 in addition to further discounts. One of the emails stated that the purpose of the discounts is to “help our advertisers gain reach during crucial moments on Twitter such as the Women’s World Cup.”
Last week, Elon Musk said Twitter’s cash flow is still negative due to a 50% drop in the platform’s ad revenue as well as its heavy debt load. In March, he said that the company had ‘’a shot’’ at becoming cash flow positive in the second quarter of 2023.
The Information claimed in January that Twitter has lost more than 500 of its biggest advertisers since Musk’s acquisition, due to worries over the platform’s content moderation. To lure back the advertisers, Twitter offered various ad incentives, and eased its ad policies by allowing cannabis ads in certain U.S. states and lifting its long-standing ban on political ads on the platform.
In June, Elon Musk said the microblogging platform have started to regaining nearly all of the advertisers that left the platform following the acquisition. “‘’Almost all of the advertisers have said that, they’ve either come back or they said they will come back,’’ Musk said during the tech event in June, where he also talked about his confidence in Twitter’s new CEO Linda Yaccarino, who he said “understands the concerns that advertisers have and I think will do a great job in addressing those concerns.”
According to the WSJ, Twitter also warned advertisers that if they haven’t spent at least $1,000 on ads in the past 30 days or $6,000 in the prior 180 days, their brand accounts will lose their verification, a gold check mark indicating that their account actually represents their brand, as of August 7.