The company formerly known as Twitter, now called “X”, is aggressively attempting to regain advertising revenue, the Wall Street Journal reports.
After attempting to raise revenue with Blue Subscription, Elon Musk and X is pivoting back to focusing on advertising, where efforts had previously failed. X is now offering discounts for advertisers posting videos in the “Explore” tab.
Companies on X who choose to receive a gold checkmark verification will also be footing a large bill. In addition to the $1,000/month subscription price, those accounts will have to spend an additional $6,000 over six months.
Some brands have been returning to Twitter/X, but many are not ready to take that step. Yaccarino’s nomination as CEO has inspired some confidence due to her background in brand management, but Elon Musk’s continued heavy presence on the app continues to make him the face of the company.
Twitter’s tweet limit catastrophe also had a serious effect on advertisers. Because views were more limited, the cost of ads shot up 15% during that day, further souring spenders. If X proves reliable and stable, advertisers might return. If X rolls out its other products within this “super app”, advertisers might find other aspects of the app that make their spending worthwhile.
