Hong Kong News

Nonpartisan, Noncommercial, unconstrained.
Friday, Jun 02, 2023

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

Hong Kong News
Close
0:00
0:00
Joe Biden falls at the Air Force Graduation
America's Got Talent…
Elon Musk has been showered with praise by the Chinese public during his trip to China
Nvidia Joins Tech Giants as First Chipmaker to Reach $1 Trillion Valuation
Drone Attack on Moscow's Wealthiest Neighborhoods Suspected to be Launched by Ukraine
Elon Musk Meets Chinese Finance Minister in Beijing
AI ‘extinction’ should be same priority as nuclear war – experts
Chinese fighter jet buzzes U.S. Air Force spy plane over South China Sea
Prominent Hacker Forum RaidForums Suffers Substantial Data Breach
Nvidia CEO Huang says firms, individuals without AI expertise will be left behind
WPP Revolutionizes Advertising with NVIDIA's AI Powerhouse
Two US Employees Fired For Chasing Robbers Out Of Store As They Broke ''Company Policy''
Pfizer, the EU, and disappearing ink - Smoke, Mirrors, and the Billion-Dose Pfizer Vaccine Deal: EU's 'Open Secret
The Sussexes' Royal Rebound: Could Harry and Meghan Markle Return to the UK?
A provocative study suggests: Left-Wing Extremism and its Unsettling Connection to Psychopathy and Narcissism
Neuralink Receives FDA Approval for First-in-Human Clinical Study
Ukrainian Intelligence Official Admits to Assassination Attempts on Putin
WATCH THIS: democracy in Russia is so bad!
Ed Davey: It is possible for a woman to have a penis
Bernard Arnault Loses $11.2 Billion in One Day as Investors Fear Slowdown in US Growth Will Reduce Demand for Luxury Products
Russian’s Wagner Group leader: “I am not a chef, I am a butcher. Russia is in danger of a revolution like in 1917.”
TikTok Sues Montana Over Law Banning the App
Ron DeSantis Jumps Into 2024 Presidential Race, Setting Up Showdown With Trump
Steve Jobs introducing Apple's iPhone, exactly 16 years ago.
Banking Behemoth vs Ex-Boss: The PMorgan-Epstein Entanglement
China overtakes Japan as world's top car exporter
Talks between US House Republicans and President Biden's Democratic administration on raising the federal government's $31.4tn debt ceiling have paused
Biden Administration Eyeing High-Profile Visits to China: The Biden Administration is heating things up by looking into setting up a series of top-level visits to Beijing by top officials in the coming months
New evidence in special counsel probe may undercut Trump’s claim documents he took were automatically declassified
A French court of appeals confirmed former President Nicolas Sarkozy's three-year jail term for corruption and influence peddling
Debt Ceiling Crises Have Unleashed Political Chaos
Weibao Wang, a former software engineer at Apple, was charged with stealing trade secrets related to autonomous systems, including self-driving cars
Mobile phone giant Vodafone to cut 11,000 jobs globally over three years as new boss says its performance not good enough
Elon Musk compares George Soros to Magneto, the supervillain from the Marvel Comics series.
Warren Buffett Sells TSMC Shares Over Concerns About Taiwan's Stability
New Study Finds That Secondary Bacterial Pneumonia Is a Major Cause of Death in COVID-19 Patients Who Require Ventilator Assistance
The official tapes of Trump's deposition in the E. Jean Carroll battery (rape) and defamation case have been released.
King Charles III being crowned.
Newly released video of Donald Trump’s rape trial deposition:
Video: Ukraine MP Punches Russian Representative At Global Meet
El Paso mayor has declared a state of emergency
Russia accused Ukraine of attacking the Kremlin with drones in an attempt to kill Putin
Dutch court orders man who fathered 550 kids to stop donating sperm
Kim Kardashian Lookalike Christina Ashten Dies Of Cardiac Arrest, Hours After Plastic Surgery
Samsung has banned employees from using generative AI services such as ChatGPT
'Godfather Of AI' Geoffrey Hinton Quits Google To Warn Of The Tech's Dangers
A Real woman
Vermont Man Charged with Stalking After Secretly Tracking Woman with Apple AirTag
Elon Musk Statements About Tesla Autopilot Could Be 'Deepfakes,' Lawyers Claim. Judge Evette Pennypacker Does Not Understand How Far and Advanced This Technology Became
Ukraine More Prepared for Counterattack as Reinforcements Arrive
×