X locks $100 million promoted accounts ad business, know the whole matter - Newztezz Online

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Wednesday, August 16, 2023

X locks $100 million promoted accounts ad business, know the whole matter

Followers Objective Advertising generates over $100 million annually in international revenue for X.

X (formerly Twitter) has decided to close the promoted accounts ad business on its platform with a price value of $100 million. According to the news, on Tuesday the company (X) has decided that it will not allow advertisers to promote their accounts within the limits of the platform to attract new followers. According to the news of IANS, according to an email sent to the customers of the advertisements seen by Axios, the company said that it has planned to start the ad unit which reduces the follower motive from last Friday itself.

Big role in international revenue

According to the news, this change comes as part of a larger effort to customize the X experience by prioritizing the content format. According to the report, Follower Objective Advertising generates more than $100 million annually in international revenue for X. To be precise, ads appear as text-based posts within the X timeline and include a Follow button for the accounts promoting them.

Relying on Promoted Followers Ad

It is seen that many advertisers rely on promoted followers ad (promoted accounts ad business) to increase their business. The report mentions that follower objective ad units have allowed marketers to target potential audiences with greater precision than organic tweets. Overall X wants to encourage advertisers to move towards more multimedia supporting ad styles. 

Company is in loss

X CEO Linda Yacarino said last week that the company has been loss-making after massive churn over the past few months, including mass layoffs and platform changes. Yacarino said that I have been in the company for eight weeks. Our data licensing and API with X is an incredible business. Our new subscription business is growing. 

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