Elon Musk's SpaceX Buys Advertising Package for Starlink on Twitter

Twitter has seen advertisers flee on fears that Musk would change the company's content moderation rules.

Elon Musk's SpaceX Buys Advertising Package for Starlink on Twitter

Photo Credit: Reuters

Elon Musk told advertisers that he aimed to turn Twitter to pursue truth, put an end to fake accounts

Highlights
  • Elon Musk owns the rocket company SpaceX, social media platform Twitter
  • Twitter generated over 90 percent of its Q2 revenue from ad sales
  • Tesla shares fell 4 percent after Musk said he had "too much work"
Advertisement

SpaceX has bought an advertising package on Twitter for its satellite internet service Starlink, said Elon Musk, who owns the rocket company and the social media platform that is seeing an exodus of advertisers.

"SpaceX Starlink bought a tiny – not large – ad package to test effectiveness of Twitter advertising in Australia and Spain. Did same for FB/Insta/Google," Musk tweeted on Monday.

Twitter, which generated more than 90 percent of its second-quarter revenue from ad sales, has seen advertisers flee on fears that Musk would change the company's content moderation rules.

Companies including General Motors, General Mills, Mondelez International and Volkswagen AG paused advertising on the platform after Musk acquired it last month.

"At the moment, most clients are suspending their activities (on Twitter) because they're worried about extreme content and content moderation on the site," S4 Capital's Martin Sorrell said.

The chief executive of Tesla and SpaceX had last week told advertisers that he aimed to turn the social media platform to pursue truth and put an end to fake accounts.

He also raised the possibility of Twitter going bankrupt days after disclosing that the platform had seen a "massive" drop in revenue and blamed activist groups pressuring advertisers.

A Platformer reporter said on Monday citing an internal email that Twitter has locked down its code base, freezing any production changes to its systems until further notice.

Meanwhile, Tesla shares fell 4 percent after Musk said he had "too much work" on his plate, with investors worrying he is too preoccupied with the social media platform when the world's most valuable automaker is facing production hurdles and rising competition.

© Thomson Reuters 2022

 


Is the new expensive 10th generation iPad worth buying instead of its predecessor? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
 
Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Reliance Jio to Provide Complete 5G Coverage for Kolkata by June 2023
Google Said to Pay $400 Million to Settle Location-Tracking Lawsuit
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »