Here’s how much Musk spent advertising SpaceX on Twitter
SpaceX has bought a Twitter advertising package for its Starlink satellite Internet service: Elon Musk, owner of the aerospace company and social media platform confirmed that it is seeing the exodus of advertisers
SpaceX (Elon Musk's aerospace company) bought one of the largest advertising packages available on Twitter, acquired by Musk for $44 billion.
Musk's aerospace company thus intends to promote Starlink's satellite Internet services on the social platform, which has recently risen to prominence for providing connection to Ukraine.
The campaign will be launched in Australia and Spain and users of Twitter, recently owned by Musk himself, should see Starlink brand messages the first three times they open the application during the days scheduled for the promotion.
When a company purchases one of these packages, it typically spends up to $250,000 to put its brand at the top of Twitter's main timeline for an entire day, sources inside CNBC explained.
According to internal documents viewed by CNBC , SpaceX has so far spent more than $160,000 on Twitter's advertising campaign for Starlink in Australia and Spain.
The new owner's advertising purchase comes at a sensitive time for the San Francisco-based company. At a company meeting last week, Musk told current Twitter employees that bankruptcy isn't out of the question, as the company faces an exodus of advertisers and a broader economic downturn.
All the details.
SPACEX ADV PURCHASE FOR STARLINK ON TWITTER (BY MUSK)
“SpaceX Starlink purchased a tiny, not large, advertising package to test the effectiveness of Twitter advertising in Australia and Spain. So did FB/Insta/Google,” Musk tweeted on Monday.
Twitter, which generated more than 90% of its second-quarter revenue from ad sales, has seen advertisers flee fears that Musk might change the company's content moderation rules.
ADVERTISERS FLEADING FROM TWITTER
Companies including General Motors Co, General Mills, Mondelez International, The North Face and Volkswagen, Audi and Pfizer have suspended advertising on the platform after Musk acquired it last month.
The Tesla and SpaceX owner and now "Chief Twit" told advertisers last week that he aimed to transform the social media platform to pursue the truth and put an end to fake accounts. But Musk's words raised the fears of big companies.
“Right now, the majority of clients are suspending their activities (on Twitter) because they are concerned about extreme content and content moderation on the site,” said S4 Capital's Martin Sorrell, reports Reuters .
THE SHOCKS FOR THE SOCIAL NETWORK WITH "CHIEF TWIT" MUSK
Twitter boasted about 237.8 million daily active monetizable users prior to Musk's controversial private deal. Now the new owner and CEO is on a mission to generate at least half of Twitter's revenue from subscribers, not just advertising.
Musk spent his first few weeks running Twitter pleading with advertisers to stay on the platform and also working to make the platform less reliant on ad dollars by adding more subscription options, including a controversial option to pay for the (so far free) blue check through the twitter Blue subscription for $8. On Friday, Twitter suspended signups for its revamped subscription service that launched early last week after a surge of customers used the plan's verified checkmark feature to create fake profiles.
Within hours, cheaply purchased blue check badges were being used by imposters to pose as brands, politicians and celebrities, and to spread false and misleading information. A fake account that "copied" the identity of the pharmaceutical giant Eli Lilly remained online for 3 hours, collecting 10,000 likes. Not only that, Eli Lilly's fake profile caused a sensation when it announced that it wanted to distribute insulin for free. The company's shares plunged on the stock market, losing more than 11%.
Earlier this month, Musk said the growing decline in advertiser spending has led to a "massive decline in revenue." He called the situation “extremely messed up!” In addition to the risk of bankruptcy, the American entrepreneur accused activist groups who put pressure on advertisers.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/innovazione/ecco-quanto-ha-speso-musk-per-la-pubblicita-di-spacex-su-twitter/ on Sun, 20 Nov 2022 06:49:47 +0000.