Amazon plans to resume advertising on Twitter and spend about $100 million a year, report says
- Amazon will resume advertising on Twitter and spend around $100 million a year, Platformer reported.
- Platformer said the move would require "some security tweaks" to its ads platform.
Amazon plans to start advertising on Twitter again to the tune of about $100 million a year, Platformer journalist Zoë Schiffer tweeted.
According to her tweet, the online retail giant was waiting for "some security tweaks" to Twitter's ads platform before returning.
The news comes a day after Elon Musk said Apple had "fully resumed" advertising on the platform. Musk later tweeted to "thank advertisers for returning to Twitter."
Half of Twitter's top 100 advertisers pulled their spending in the days after Musk took over Twitter, according to research center Media Matters.
They collectively spent $750 million on Twitter ads this year alone and accounted for almost $2 billion of the company's ad revenue since 2020.
General Motors was one of the first advertisers to announce it was pausing ads on Twitter. The Tesla rival said in October it needed to review the platform under Musk's leadership. The decision came as a result of GM's concerns that its Twitter data could be passed on to Tesla, sources told The New York Times.
Twitter offered incentives to big-spending advertisers to counteract the steep loss of revenue, Schiffer tweeted last week. Any advertisers spending more than $500,000 will have that matched by Twitter, the source told Schiffer.
While returning advertisers may be good news for Twitter, internal sources told The Times that ad revenue in the week of November 20 was 80% below expectations.
Some brands only agreed to advertise for events like the Super Bowl and had clauses stating they could change their minds for any reason, according to the Times report.
Amazon, Twitter, and Apple did not immediately respond to Insider's request for comments.
- Meet LignoSat, the world’s first wooden satellite that is set to orbit the Earth by 2024!
- Bajaj Chetak Urbane electric scooter with 113 km range to hit the roads starting ₹1.15 lk
- Cyclone 'Michaung' alert in the Tirupati, Nellore, Prakasam, Bapatla, Krishna, West Godavari, Konaseema, and Kakinada of AP Districts
- Gold surges Rs 450 to hit record high of Rs 64,300 per 10 gm
- 7 best places to visit in Amritsar on your next trip