After a bunch of companies stopped running Twitter ads due to “uncertainties surrounding the platform’s moderating policies,” it seems some of the big players have started coming back.
Welcome back, A-players: Amazon and Apple have both resumed advertising on Twitter, less than a week after Musk complained about Apple.
Reuters claims Amazon is looking to drop about $100M per year on the platform, while Apple was already the biggest ad spender, spending $48M in Q1 of this year alone.
Elon Musk thanked “advertisers for returning” to Twitter in a tweet yesterday.
Just a note to thank advertisers for returning to Twitter
— Elon Musk (@elonmusk) December 4, 2022
Very generous, Elon: On another note, Twitter has already created incentives for remaining advertisers to increase their ad spend, offering to match 100% of incremental spending to whoever spends at least $500K on ads by the end of the year.
With 90% of its revenue coming from ads, it’s obvious why Twitter needs advertisers to splash more cash on ads. And so far, its tactics seem to be working.
Why we care: Big money is coming back to Twitter, which naturally ups the competition and ad prices.
So if you were looking to get into Twitter ads while cost-per-click (CPC) is low, that ship might have sailed.
But having the heavyweights back spending will provide an overall better outlook for the platform that’s been recently surrounded in controversy – and boost advertisers’ confidence.