New Delhi (India), 10th June 2023: Twitter, which has been under the ownership of Elon Musk since October, is planning to launch a new venture that will reimburse verified content producers for adverts in their replies.
Musk, the billionaire entrepreneur and Twitter owner, took to the site on Friday to announce the impending functionality, as well as the reveal of a $5 million initial payment block.
Musk stated in his tweet that only verified users would be eligible for this programme, and only advertising displayed to verified users will be tallied. The move comes as Twitter struggles to retain advertisers, owing in part to concerns about ad placement following the company’s major personnel layoffs.
This news comes on the heels of Twitter’s recent selection of Linda Yaccarino as CEO. Yaccarino, an NBCUniversal advertising industry veteran, is expected to offer vast expertise to the social media platform’s advertising initiatives.
Musk expressed his vision for Twitter earlier this month, noting that the messaging service presently generates 5 to 6 cents per hour of user attention. He believes that by including more relevant and timely adverts, this figure may rise to 15 cents or perhaps higher.
Twitter’s new pay programme for verified content creators intends to incentivize engaging and high-quality content while also establishing new revenue sources for the site and its authors. This approach has the potential to improve the overall user experience by providing a more diverse and targeted ad ecology.
As Twitter goes forward with its attempts to overhaul its advertising strategy, the addition of sponsored ads in replies is an important milestone in its ongoing efforts to attract and retain advertisers, boost its income streams, and nurture a healthy creator community.
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