Twitter, now rebranded as X, is taking a tough stance with advertisers in an effort to boost its profits. Recent reports indicated that Twitter’s revenue had plummeted by a staggering 50 percent. To increase revenue, the company has come up with a new strategy, as reported by The Wall Street Journal, requiring brands to spend a minimum of $1,000 per month on ads to maintain their verified status on the platform.
In response to a comment by Elon Musk on regarding The Wall Street Journal‘s report, Musk stated that the “moderately high” cost serves as a deterrent to reduce the number of scammers creating “millions of accounts” on the platform. Musk suggested that instead of the $1,000 monthly fee, brands could opt to pay the same amount for the company’s verified organization badge.
Clearly, Twitter is exploring ways to minimize its losses, with advertising being its primary revenue source. According to The Wall Street Journal, Twitter is also reducing prices for some advertising slots. For instance, all new bookings will receive a 50 percent discount until July 31st. The company claims that these discounts provide advertisers with an opportunity to “gain reach during crucial moments,” such as sporting events.
While the $1,000 monthly rate may not pose a problem for larger brands, smaller businesses without the extra budget may find this change challenging.
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Alex Smith is a writer and editor with over 10 years of experience. He has written extensively on a variety of topics, including technology, business, and personal finance. His work has been published in a number of magazines and newspapers, and he is also the author of two books. Alex is passionate about helping people learn and grow, and he believes that writing is a powerful tool for communication and understanding.
