Tuna Cetin
Twitter is offering free ads to lure back advertisers and boost its ad revenue that has seen a downward trend since it was acquired by Elon Musk for $44 billion in late October.
According to emails seen and reported by the Wall Street Journal, the social media company said it would match advertisers’ ad spending up to $250,000. The total amount, $500,000, must be spent before February 28, it added.
The news comes more than a month after Twitter sent emails to advertisers informing them about its ‘’biggest ad incentive ever’’ and offered to match their spending up to $500,000. In addition, it also rolled out new ad controls letting them prevent their ads from appearing next to specific content, and recently announced that it would allow more political ads on the platform in the coming weeks.
Just after Musk completed his takeover in October, the company laid off nearly half of its workforce, including those from its trust and safety teams. Expressing concerns over the company’s uncertainty and content moderation changes, brands like Audi, United Airlines, General Mills, Pfizer, Mondelez International and many others halted their ad campaigns on the platform.
In late December, Musk tweeted that Twitter saw a ‘’massive drop in revenue due to activist groups pressuring advertisers’’.
And to lure back those that stopped running ads on the platform, the company has been now rolling out changes to its ad business and offering various incentives.
Advertisers could take advantage of the new incentive to run campaigns on the platform during the Super Bowl week, which is expected to be its biggest revenue day, the WSJ reported.
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