Elon Recruits Google to Save Twitter Ad Revenue
Twitter has never been the go-to advertising platform. Still, as Elon Musk continues to roll out his exciting changes and developments to social media, he’s now looking at Google to increase its advertising revenue.
Twitter (X) Teams Up With Google
The bold move comes as Twitter aims to boost its advertising revenue and reach a broader audience of advertisers.
Musk claims that Twitter’s ad revenue is down 60%, and Musk, accompanied by former NBC ad sales chief, now CEO at X (Twitter), Linda Yaccarino, is looking to auction off ad space to third-party vendors.
In May of this year, Twitter began selling its inventory through the Indian ad marketplace in Mobi. Just last week, Google confirmed it has also secured a deal to sell ad space for Twitter.
Elon Musk has made his feelings about advertising pretty clear, stating that he, in fact, “hates advertising”.
However, when Musk first took over the social media platform, Twitter brought in 92% of its total revenue from advertising, which Elon has brushed aside. When Elon bought Twitter, many advertisers jumped ship amid content moderation and brand safety concerns.
Focus has shifted from Musk to his newest subscription offering, once known as Twitter Blue, now dubbed ‘X Premium’.
X (formerly Twitter) has recently started using Google Ad Manager, a platform allowing publishers to serve ads programmatically. The ads served via Google will only appear on X’s home feed.
Now, Twitter advertising has never been smooth sailing, and before Elon Musk’s ownership, advertisers were apprehensive about advertising on Twitter. This resulted from the intense political and social debates on the app and breaking news events – subjects advertisers would prefer not to advertise against.
What Does Teaming up With Google Bring to Twitter?
This announcement means one thing: Twitter needs help to win back advertisers, and if they do not see an improvement soon, their revenue in 2023 could be severely impacted.
Although it seems desperate and a last chance at bringing back those uninterested publishers, the decision will give users more confidence in Twitter (X) as an advertisement platform. This is because of the sheer popularity of Google Ads, Ads Manager and its subsequent analytics platform.
It also produces an opportunity for advertisers to learn and increase the suitability of their ads using Google and its setup/pointers to create better ads that only appear on X’s homepage. Their ads and ad placement can improve the results of previous ad setups.
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