Twitter Inc is offering advertisers incentives to increase their spending on the platform, according to an email sent Thursday to advertising agencies, Elon Musk’s effort to jumpstart its business after the acquisition prompted several companies to pull back. did.
Details of the incentive offer were first reported by the newsletter Marketing Brew.
Twitter touted the offer as “the largest advertiser promotion ever on Twitter,” according to emails reviewed by Reuters. US advertisers who book $500,000 in incremental spend will qualify to have their spend matched with a “100% price increase”. $1 million cap, the email said.
Musk’s first month as Twitter owner has included furloughs of staff working on content moderation and incidents of spammers impersonating major public companies, including incidents that have rocked the advertising industry.
Several companies, from General Mills Inc to luxury automaker Audi of America, have dropped or stopped advertising on Twitter since the acquisition, and Musk said in November that the company had seen a “huge” drop in revenue.
Advertising sales account for about 90% of Twitter’s revenue.
Twitter did not immediately respond to a Reuters request for comment.
According to the email, advertisers booking an incremental spend of $250,000 in the UK and Japan will receive a 100% match, while brands spending $50,000 in all other territories will receive a match.
Earlier in October, Musk said he wanted Twitter to be “the most respected advertising platform”, not a “free-for-all hellscape”, to gain the trust of ad buyers ahead of the close of their deal.
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