A new American report revealed that the rebranding of Twitter to "X" was accompanied by a huge reduction in advertising prices on the platform owned by billionaire Elon Musk, according to the "Wall Street Journal".
The report indicated, according to emails that reached advertisers on “X”, last week, that the social networking platform offered them new incentives for ads in the United States and the United Kingdom, and warned that they would lose the blue verification mark in the event that certain spending rates were not reached.
While the value of discounts in the value of ads reached about 50% with regard to advertising content until July 31, in addition to other discounts.
One of the emails said the sale was intended to help advertisers gain exposure during high-profile events on Twitter such as the FIFA Women's World Cup.
The newspaper added that the platform, which was known as Twitter until a few days ago, warned advertisers that starting next August 7, trademark accounts will lose verification if they do not spend at least $1,000 on ads within 30 days of this date, or $6,000 within 180 days. .
It is noteworthy that the company usually makes most of its profits from ads, but it suffered because of the trademarks' concerns about Musk's new approach to management and dealing with content, and this also comes in light of the suffering also in the advertising market in general.
This week, X began offering advertisers discounts that include price cuts for video ads that appear next to the trending list, according to the emails.
In addition, the authentication mark is very important for brands due to fears of exploiting their marks and deceiving the public with accounts of the same name, which many companies suffered from in the early days after Musk's acquisition of Twitter when he removed the authentication marks.