Elon Musk offers 50% discount to advertisers on ‘X’

Elon Musk, the owner of 'X' (formerly known as Twitter), is taking measures to entice advertisers back to the platform. To achieve this, he is offering a significant 50% discount on advertising prices. The Wall Street Journal reported that 'X' is also providing additional incentives for specific advert formats in both the UK and the US.

However, advertisers on the platform are facing certain risks and conditions. Some emails sent to brands have revealed that they could lose their verified badges if they fail to meet certain spending requirements. Brands risk losing their gold verification badge if they haven't spent at least $1000 on advertising in the past 30 days or at least $6000 on ads in the last 180 days.

To further attract advertisers, 'X' is offering a 50% discount on video ads and trending topics for any new bookings made until July 31st.

One significant issue on the platform is verification, as companies fear the impersonation of brand names by fraudsters. Since badges have become merchandisable, incidents of fraudsters misusing brand names and misrepresenting them have been reported.

Since Elon Musk acquired the platform, advertiser spending has declined significantly, and brands have expressed concerns about content moderation and the platform's overall approach. These concerns include impersonation of brands, limited viewing, and posting capabilities.