BrandArena: Spend $1,000 per month or risk losing verification status, X tells advertisers

Thursday, 27 July 2023

Spend $1,000 per month or risk losing verification status, X tells advertisers

Twitter is apparently hard-balling advertisers in an effort to enhance its bottom line as it rebrands to X. According to recent reports, Twitter's revenue has decreased by a whopping 50%.

According to The Wall Street Journal, the company's latest revenue-boosting approach requires firms to spend at least $1,000 each month on advertisements in order to maintain their verified status on the site.

Elon Musk responded to a tweet regarding The Wall Street Journal's report by saying that the "moderately high" premium is a preventative step to help minimise the number of scammers who create "millions of accounts" on the platform.

Musk went on to say that brands might instead pay $1,000 each month for the company's verified organisation badge. It's evident that Twitter is searching for ways to cut costs since advertising is the company's primary source of revenue.

Twitter is also reportedly lowering the prices of some of its advertising spots. Twitter, for example, is offering a 50% discount on all new bookings through July 31st. According to the corporation, the purpose of these reductions is to help advertisers "gain reach during crucial moments" such as sporting events.

While the $1,000 monthly charge is unlikely to be an issue for larger brands, the new shift may be detrimental to smaller firms that do not want to or cannot afford to commit. 

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