Tech company will match advertisers' ad spend of up to $250,000
Twitter Inc is offering advertisers a new incentive in an effort to bring brands back to the social-media platform, which has seen its advertising business deteriorate following its $44 billion acquisition by Elon Musk.
The tech company is dangling free advertising space by offering advertisers up to $250,000 in advertising spending, according to emails reviewed by The Wall Street Journal. The $500,000 ad should run until February 28, the email said.
Twitter did not respond to a request for comment.
The incentive is the latest attempt by the company to get brands to spend on its platform. Recently, Twitter offered advertisers $500,000 in free ads as long as they spend at least $500,000.
Ad buyers said the incentive could be used to buy promoted tweets that run during Super Bowl week, which is a major sales period for Twitter. In recent years, advertisers have flocked to Twitter during the Super Bowl to generate buzz about their big game marketing efforts. The Journal reports that the Super Bowl is Twitter's biggest revenue day of the year.
Twitter is facing financial pressure to attract back a number of advertisers who have ramped up their spending since the company was acquired by Mr Musk in late October. Advertisers bolted largely because of fears over what they said was Mr. Musk's approach to content moderation and concerns that his ads would appear too close to controversial material.
Mr Musk said in November that Twitter had suffered a "precipitous drop in revenue" and was losing $4 million a day.
Several big brands, including pharmaceutical company Pfizer Inc, United Airlines Holdings Inc and auto makers General Motors Co and Volkswagen AG, have curtailed their spending on Twitter. Prior to Mr Musk's acquisition, more than 75 of Twitter's top 100 ad spenders were not spending on the platform as of the week ending January 8, according to an analysis of data from research firm Sensor Tower.
No comments:
Post a Comment