Elon Musk made a statement over two months ago, mentioning that most of his advertisers had returned to Twitter, and he expressed confidence that all concerns had been resolved. In order to rejuvenate Twitter’s advertising business, he brought on Linda Yaccarino, a highly regarded advertising executive, as the company’s new CEO. During Musk’s leadership, Twitter’s advertising business faced challenges, and he is now actively working to restore its performance.
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Recent reports indicate that Musk may implement a new approach, requiring brands to spend a minimum of USD 1,000 per month on Twitter ads to maintain their gold verification badge. This move is believed to be part of Musk’s strategy to encourage brands to invest more in Twitter’s advertising platform and regain momentum in the company’s ad revenue.
According to a report from Business Insider, citing the Wall Street Journal as the original source, Elon Musk’s platform will begin removing the gold checkmark from businesses that do not meet certain advertising spending thresholds. Starting from August 7, businesses will need to spend at least USD 1,000 (approximately Rs 81,000) on advertisements within 60 days or USD 6,000 (Rs 4.9 lakh approx) within 180 days to retain the gold checkmark. An email sent to advertisers, which was reviewed by the Wall Street Journal, notifies them of this new policy.
Furthermore, in addition to the new policy mentioned earlier, Twitter, now rebranded as “X,” is reportedly planning to provide up to a 50 percent discount on specific ads.
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Under the current Twitter verification plans introduced in January this year via a blog post, businesses are already required to pay a monthly fee of USD 1,000 to retain their gold verification badge on the platform. With these recent developments, Twitter (X) seems to be implementing various measures to encourage businesses to invest in advertising on the platform while also offering discounts to entice advertisers.
In a surprising move earlier this week, Twitter underwent a significant rebranding and adopted the name “X” to align with Elon Musk’s vision of transforming the platform into an all-encompassing ‘everything app.’ The shift represents a broader scope for users beyond simply sharing their thoughts with the world. The rebranding decision was unexpected, and Twitter’s iconic blue bird logo was replaced with a futuristic X symbol.
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