The Business Times

Musk’s X social media platform shuts down promoted accounts ad business

    • Promoted accounts or "Follower Objective" ads generate over $100 million in annual global revenue for X.
    • Promoted accounts or "Follower Objective" ads generate over $100 million in annual global revenue for X. PHOTO: REUTERS
    Published Tue, Aug 15, 2023 · 07:30 PM

    SOCIAL media company X, formerly known as Twitter, will no longer allow advertisers to promote their accounts within the platform’s timeline to attract new followers, Axios reported on Tuesday (Aug 15), citing an email to advertising clients.

    Promoted accounts, or “Follower Objective” ads, generate more than US$100 million annually in global revenue for X, according to the report.

    X did not immediately respond to a Reuters request for comment.

    Advertisers largely rely on promoted follower ads to drive business on the platform and target certain audiences.

    CEO Linda Yaccarino, the former advertising chief at NBCUniversal, has been trying to rebrand the company’s image since she started as CEO on Jun 5 and bring back advertisers who left the platform after Elon Musk’s changes. REUTERS

    XTwitterElon MuskSocial media

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback
    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More