Amazon And Other Big Advertisers Reportedly Returning To Twitter

Amazon And Other Big Advertisers Reportedly Return To Twitter

Since Elon Musk’s disastrous £36 billion takeover of the company, Twitter’s ad revenue has been falling fast, but the CEO appeared to acknowledge in a tweet that some businesses have returned.

According to sources, Amazon intends to start spending millions of dollars again on Twitter advertising.

According to the Reuters news agency and a tweet from the tech blog Platformer, the move will see Amazon invest around $100 million (£81.3 million) annually on the platform, which is currently owned by Elon Musk.

The reinstatement of the company is subject to some “security changes” to Twitter’s advertising infrastructure, according to a tweet from a Platformer reporter.

Mr. Musk, the CEO of Twitter, reportedly stated that Apple Inc. had restarted its full advertising.

Apple and Amazon have not yet commented on the reports.

Since Mr. Musk’s disastrous $44 billion (£36 billion) takeover of the firm, which resulted in a huge departure of employees, Twitter’s ad income had been steadily falling.

Soon after he took control of the company, Mr. Musk fired half of Twitter’s 8,000-person workforce after moving even faster to fire its senior executives.

Amazon And Other Big Advertisers Reportedly Return To Twitter

In the first quarter of this year, Apple was Twitter’s biggest advertiser, spending $48 million (£40 million) on the social network, but its expenditure on the platform has decreased.

According to ad monitoring company Pathmatics, the most valuable company in the world spent an estimated $131,600 (£110,000) between 10 and 16 November on Twitter advertisements, a decrease from $220,800 (£184,000) between 16 and 22 October, the week before Musk concluded the Twitter transaction.

Musk also criticized Apple at the same time, alleging that the company had threatened to remove his social network from its app store without warning.

In a series of tweets, the billionaire also questioned whether Apple detested free speech and whether it would target Tesla, his electric-car firm.

But in a post sent out on Saturday, the CEO seemed to indicate that both Apple and Amazon had really returned to Twitter advertising.

Mr. Musk said last week that his company’s revenue has decreased “massively.”

Since the acquisition, a number of companies, including the food company General Mills and the automaker Audi of America, have stopped or suspended their Twitter advertising.

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