After recently announcing that a new CEO would be joining Twitter in six weeks and that he would be moving to overseeing product and tech, Elon Musk made another big announcement on June 9. Owner of Twitter, said that the microblogging platform will soon start paying verified content creators for ads in their replies. The first payment block will be of around $5 million, Musk said in a tweet.
"Note, the creator must be verified and only ads served to verified users count," Musk, the billionaire who bought Twitter last October, wrote.
Since Tesla CEO Musk acquired Twitter, the platform has struggled to retain advertisers, who have been wary about the placement of their ads after the company laid off thousands of employees.
The move comes as Twitter's newly named CEO, Linda Yaccarino, an advertising veteran from NBCUniversal, is about to take the helm at the social media platform.
In March, Musk said that the messaging service makes about 5 or 6 cents per hour of attention from users and could raise that to 15 cents or more with advertisements that are more relevant and timely.
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(With inputs from Reuters)
(Edited by : Jerome Anthony)
First Published: Jun 10, 2023 11:06 AM IST
