There will soon be a requirement for companies who wish to advertise on Twitter Inc. to pay for verification or spend a minimum amount on ads on a monthly basis, Twitter Inc. explained to advertisers this week.
From today onwards, no ads will be available to users who are not verified, including those who pay $8 per month for Twitter Blue and “Verified Organizations” who pay $1,000 to obtain a gold or gray check mark, according to a company email obtained by Trade Algo.
A gold check mark will be given to companies that are already spending $1,000 or more a month on ads, the company added, and they will be allowed to continue spending money on ads.
There are a number of changes made to Twitter's advertising rules related to removing fake accounts and bots, as well as raising the quality of content and improving the user and advertiser experience on the platform, the company announced in an email.
Since it was acquired by Elon Musk last year, Twitter has been experimenting with a number of monetization strategies, including charging for verification and API access, among others. The paid-for verification model of the platform initially failed to gain traction due to the fact that many prominent accounts had been verified for free in the past. These "legacy verified" accounts, however, have been stripped of their blue checks and some of the features of the product have been restricted to those who subscribe to Twitter Blue, including the ability to edit tweets, etc.
Some digital marketing businesses have changed their strategies due to the new advertising policy that has been introduced.
“Digital Marketing Specialist Ltd, a UK-based media agency, has already moved its budget away from projects that will launch next week due to the uncertainty over whether clients will require verification or how long it will take to complete the process,” said Tom Davenport, managing director of the company.
There has been a decline in revenues generated from advertising in the wake of Musk's acquisition of SpaceX and Tesla, with Musk's online activities causing concerns about the safety of the platform as a whole. Clients of several large media agencies were advised to suspend their campaigns for a period of time.
Twitter removed its legacy blue checks from accounts earlier this week, and now Musk has announced that he is "personally paying" for the Twitter Blue subscriptions of three accounts: those of basketball player Lebron James, author Stephen King, and actor William Shatner.
Despite our request for comment, Twitter didn't respond meaningfully.
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