Elon Musk’s X (formerly Twitter) is still struggling financially. At the beginning of June, we wrote that the company’s revenue from advertisements decreased by 59% compared to the year before. This is also the main reason for predictions that “X” will likely continue to operate at a loss until the end of the year. In order to somehow correct the situation, the company has started implementing a new plan to increase revenue – to force brands to spend at least $1,000 a month on advertising, otherwise they will lose their verification.
Starting Aug. 7, X will be able to strip brands of their gold verification labels if they haven’t spent at least $1,000 on ads on the platform in the past 30 days, according to an email sent to the companies.
Companies must pay $1,000 per month to receive this label at all. Of course, there are exceptions – the top 500 advertisers and 10,000 business accounts with the most followers on the “X” platform – who are given this label for free. This means that, in theory, if a brand wants to keep its Gold label, it will need to spend at least $2,000 a month on “X” advertising.
As for switching to the ‘X’ brand, it’s all happening there. The new logos appear both in the web and already in the “Android” versions. iOS users can still enjoy the last moments with the blue bird for now. Also, there was news that “X” collected a user’s username “x” for himself, saying “thank you” for it and inviting him to the company’s headquarters, which is understandable, since the compensation money “X” does not have at the moment.
2023-07-31 08:30:00
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