While advertisers shun Twitter, Elon Musk just bought ads on the blue bird to promote SpaceX and its Starlink service.
Elon Musk is considering the worst-case scenario for Twitter, believing that bankruptcy was a possible eventuality. But we are not there yet, and the businessman seeks to multiply the sources of income for the social network at all costs. In addition to the suspension of many collaborators and the paid certification policy (pending), Elon Musk naturally depends on advertising to fill the coffers. But the incessant twists and turns of recent days have scared a good number of them.
In the midst of this downturn, a small ray of sunshine nevertheless shines on the blue bird. SpaceX, headed by Elon Musk, has released a budget to buy an advertising package on the social network. According to CNBC, which cites internal Twitter footage, this ad campaign aims to promote Starlink, SpaceX’s satellite internet provider.
Twitter needs to win back advertisers
In detail, this promotion will target users living in Australia and Spain. For a full day of promotion on the platform, SpaceX will pay over $250,000. On Twitter, Musk confirmed the transaction while downplaying its significance: “SpaceX Starlink purchased a very small – not large – advertising package to test the effectiveness of Twitter advertising in Australia and Spain. I did the same for FB/Insta/Google”.
The information is enough to make you smile when you know how worrying the leakage of advertisers is for the social network. Here’s a textbook case that explains why paid certification can be disastrous for businesses. Since this was available for a short time, a plethora of fake Twitter accounts appeared.
And some companies have paid the price, like pharmaceutical giant Eli Lilly and Company. A fake verified account had claimed insulin was becoming free for all, sending Eli Lilly stock plummeting.