Elon Musk reportedly announced that Apple is the largest advertiser on Twitter and has "fully resumed" advertising on the platform.
Twitter saw a drop in revenue after companies like General Mills, Audi paused advertising
Photo Credit: Reuters
Amazon and Apple are planning to resume advertising on Twitter, according to media reports on Saturday. The developments follow an email sent by Twitter on Thursday to advertising agencies offering advertisers incentives to increase their spending on the platform, an effort to jump-start its business after Elon Musk's takeover prompted many companies to pull back.
Twitter billed the offer as the "biggest advertiser incentive ever on Twitter," according to the email reviewed by Reuters. US advertisers who book $500,000 (roughly Rs. 4 crore) in incremental spending will qualify to have their spending matched with a "100 percent value add," up to a $1 million (roughly Rs. 8 crore) cap, the email said.
On Saturday, a Platformer News reporter tweeted that Amazon is planning to resume advertising on Twitter at about $100 million (roughly Rs. 814 crore) a year, pending some security tweaks to the company's ads platform.
However, a source familiar with the matter told Reuters that Amazon had never stopped advertising on Twitter.
Separately, during a Twitter Spaces conversation, Musk announced that Apple is the largest advertiser on Twitter and has "fully resumed" advertising on the platform, according to a Bloomberg report.
Last week, Twitter's new CEO accused Apple of threatening to block the microblogging service from its app store without saying why in a series of tweets that also said the iPhone maker had stopped advertising on the social media platform. The billionaire CEO of Twitter and Tesla said Apple was pressuring Twitter over content moderation demands.
Musk's first month as Twitter's owner has included a slashing of staff including employees who work on content moderation and incidents of spammers impersonating major public companies, which has spooked the advertising industry.
Many companies from General Mills to luxury automaker Audi of America stopped or paused advertising on Twitter since the acquisition, and Musk said in November that the company had seen a "massive" drop in revenue.
Apple and Twitter did not immediately respond to Reuters request for comment on the matter.
© Thomson Reuters 2022
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