A number of advertisements have been bought by the company. CNBC reported that the ad campaign purchase came as other advertisers fled the site due to the billionaire's chaotic tenure as the site's owner.
According to CNBC, the company is buying ad packages for Spain and Australia. The Starlink project is promoted in the advertisements.
Major brands like Pfizer and United Airlines stopped running their ads on the social networking site after Musk took over. Despite Musk's vague assurances that moderation hadn't changed, some of them were concerned about the site's moderation. The decision was framed as a standard business practice by other companies. Companies were waiting to see how things went before they resumed ads.
The terms of Musk's purchase left the social media site in dire financial straits. Last week, the chief twit told the remaining employees that it was possible for them to go bankrupt. $13 billion in debt was taken on as a result of the acquisition. The company had only been profitable a few times before Musk came on board.
CNBC reported that the company bought $250,000 in advertising under a package called the "takeover." In Australia and Spain, site users should see Starlink promoted at the top of their timelines the first few times they open the platform.
The company hasn't had a lot of ads on the social networking site. When the reality of Musk buying the social media site was months away, he claimed that his companies don't buy advertising. Which is an incorrect statement now.
Being called out for being hypocritical. The ad buy-up is part of an advertising effectiveness test. SpaceX Starlink bought a small ad package to see if it would work in Australia and Spain. He posted that he did the same for Facebook and Insta.
All Rights Reserved © 2024
