[Asia Economy Reporter Kang Nahum] Twitter, which has been experiencing management difficulties since being acquired by Tesla CEO Elon Musk, has once again launched a 'free advertising' promotional campaign to retain advertisers.
The Wall Street Journal (WSJ) reported on the 14th (local time) that Twitter is promoting a '1+1' event to bring back advertisers who have left.
If advertisers spend up to $250,000 (approximately 310 million KRW) on advertising, Twitter will provide additional advertising of the same amount beyond the initial ad spend.
This is the first time in about a month since early December last year that Twitter has launched such a free advertising promotion. At that time, Twitter set a condition that advertisers had to spend at least $500,000 (approximately 620 million KRW) to receive the free advertising benefit, but the criteria for this event have been significantly lowered.
Twitter's successive promotional activities appear to be due to management difficulties. About 90% of Twitter's revenue of $5.1 billion (approximately 6.3 trillion KRW) recorded last year came from advertising.
However, after Musk acquired Twitter in October last year, major advertisers including pharmaceutical company Pfizer, United Airlines, automobile companies General Motors (GM), and Volkswagen stopped advertising on Twitter.
In addition to layoffs, Twitter has also implemented cost-cutting measures such as reducing office space.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
