Twitter to now pay verified content creators for ads in replies, says Elon Musk

Twitter will now be paying verified content creators for advertisements in their replies, the company's owner Elon Musk announced on Friday. The first block of payment will be around $5 million.

Taking to the microblogging platform, Musk said, "In a few weeks, X/Twitter will start paying creators for ads served in their replies. The first block payment totals $5M."

“Note, the creator must be verified and only ads served to verified users count,” he further added.

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This move by the social media giant comes after Twitter's newly appointed CEO, Linda Yaccarino, who is an advertising veteran from NBCUniversal, is about to take the lead at the organization.

“It happened — first day in the books!” she posted on her Twitter account earlier this week.

Since Elon Musk acquired Twitter, the microblogging site has struggled to retain advertisers, who have been wary about the placement of their ads after the company laid off thousands of employees.

In the month of 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.

Elon Musk suffers major setback as Twitter US ad revenue drops 59 per

Since Elon Musk's takeover of social media giant Twitter, its US ad revenue witnessed a massive slump of 59 per cent, according to media reports citing documents. Internal presentations circulating in media showed that the company's revenue for the period between April 1 and the first week of May had dropped to $88 million, a 59 per cent drop compared to the same period last year.

Internal reports also show that the company has regularly missed its US sales targets over the past few months, sometimes by even 30 per cent.

According to some Twitter employees, advertisers in the US could be abandoning the platform over the rise of pornographic and hate speech content on the platform. According to media reports, high-profile companies including Chevrolet, Chipotle Mexican Grill, Ford, and Jeep have halted advertising on the site. In November, a report emerged which claimed that almost half of the company's top 100 advertisers who spent more than $2 billion on Twitter ads since the beginning of 2020, had halted their campaigns on Twitter.

Linda Yaccarino takes over as the new CEO of Twitter

Elon Musk on May 12 announced that Linda Yaccarino would assume the post of CEO of Twitter.

In a tweet, Musk said, "I am excited to welcome Linda Yaccarino as the new CEO of Twitter! @LindaYacc will focus primarily on business operations, while I focus on product design & new technology. Looking forward to working with Linda to transform this platform into X, the everything app."

(With inputs from agencies)

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