Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Twitter Offers Free Ads as It Seeks to Woo Brands Back to Its Platform

Twitter Offers Free Ads as It Seeks to Woo Brands Back to Its Platform

Twitter is offering advertisers a new incentive in an attempt to woo brands back to the social-media platform, which has seen its ad business deteriorate following Elon Musk‘s $44 billion takeover. 
The tech company is dangling free ad space by offering to match advertisers’ ad spending up to $250,000, according to emails reviewed by The Wall Street Journal. The full $500,000 in advertising must run by Feb. 28, the emails said. 

Twitter didn’t respond to a request for comment.

The incentives are the latest effort by the company to get brands to spend on its platform. Recently, Twitter offered advertisers $500,000 in free ads as long as they spent at least $500,000. 

Ad buyers said that the incentive could be used to buy promoted tweets that run during Super Bowl week, a key selling period for Twitter. Advertisers in recent years have flocked to Twitter during the Super Bowl to generate buzz around their big game marketing efforts. The Super Bowl is Twitter’s biggest revenue day of the year, the Journal has reported. 

Twitter is facing financial pressure to lure back the many advertisers that have paused their spending since Mr. Musk acquired the company in late October. Advertisers bolted largely because of fear over what they said was Mr. Musk’s approach to content moderation and concerns that their ads would end up appearing near controversial content. 

Mr. Musk said in November that Twitter had suffered “a massive drop in revenue” and was losing $4 million a day. 

Many big brands including pharmaceutical company Pfizer Inc., United Airlines Holdings Inc. and auto makers General Motors Co. and Volkswagen AG have paused their spending on Twitter. More than 75 of Twitter’s top 100 ad spenders from before Mr. Musk’s takeover weren’t spending on the platform as of the week ending Jan. 8, according to an analysis of data from research firm Sensor Tower.

Persuading advertisers to return to Twitter is critical. Almost 90% of Twitter’s $5.1 billion in revenue in 2021 came from ads.

In order for a brand to be eligible for the latest incentive, it must use certain Twitter products such as its recently released keyword-avoidance tool, which allows advertisers to create a list of up to 1,000 keywords and avoid having their ads appear above or below tweets containing those words.

Mr. Musk said this past month that he expects Twitter will be roughly cash-flow break-even in 2023. He previously had invoked the specter of bankruptcy. 

Mr. Musk said Twitter had been on track to post negative cash flow of $3 billion a year before the company slashed costs, in part by cutting thousands of jobs. He said the staff was roughly 2,000 people compared with about 8,000 previously.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Bitcoin Reaches New Milestone of $116,000
Severe Heatwave Claims 2,300 Lives Across Europe
Declining Beer Consumption Signals Cultural Shift in Germany
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
×