Amazon To Resume Ads on Twitter At $100M Per Year
Journalist of Platformer Zoe Schiffer reported that Amazon intends to resume advertising on Twitter for $100 million annually.
The information was released a day after Elon Musk claimed that Apple has “completely resumed” platform advertising. Musk subsequently thanked advertisers for coming back to Twitter in a tweet.
According to research group Media Matters, half of Twitter’s top 100 advertisers reduced their expenditure in the days after Musk’s acquisition of Twitter.
They have contributed about $2 billion of the company’s ad income since 2020, having spent a combined $750 million on Twitter advertising just this year.
Following a shooting, at an LGBTQ nightclub in Colorado Springs last month that left five people dead and several more injured, three individuals informed The New York Times that Apple had suspended its Twitter advertisements.
One of the first marketers to declare that it was stopping advertisements on Twitter was General Motors. The Tesla competitor stated in October that it was necessary to evaluate the platform run by Musk.
According to sources cited by The New York Times, GM worried that Tesla might obtain access to its Twitter data, which led to the move.
Schiffer tweeted last week that Twitter provided incentives to high-budget advertisers to make up for the sharp income loss. Twitter would match any advertising expenditures of $500,000 made by marketers.
The NYT stated that ad income in the week of November 20 was 80% below forecasts, despite the fact that returning advertisers may be good news for Twitter.
According to the Times report, some firms only consented to advertise for occasions like the Super Bowl and had conditions declaring they may alter their minds at any time.