Elon Musk’s SpaceX Buys Ad Package From Elon Musk’s Twitter
While a number of major brands announced ad breaks on Twitter following the Elon Musk acquisition, the platform saw a new ad buy from a notable billion-dollar company: SpaceX by Musk.
Musk confirmed on Twitter on Monday that its aerospace company, SpaceX, bought a package to advertise its Starlink internet service on Twitter, although it played down the size of the ad purchase.
The ad buy would be the first for any of Musk’s companies, including Tesla, that does not engage in traditional advertising.
“SpaceX Starlink purchased a small ad package – not a big one – to test the effectiveness of Twitter advertising in Australia and Spain,” Musk wrote in a response to a Twitter user, adding that he had done the same. on competitors such as Facebook, Instagram and Google.
His remarks came after CNBC reported on Sunday that Musk had ordered “one of the biggest advertising packages available on Twitter” for SpaceX, citing unnamed sources who had viewed internal documents related to the matter. SpaceX did not respond to CNN Business’ request for comment.
In the weeks following Musk’s takeover of Twitter, some civil rights groups have called for advertisers to boycott the platform, citing concerns about the direction its new owner is taking and reporting that Hate speech incidents have increased on the platform.
A number of major brands, including General Mills, The North Face and several automakers (which compete with Musk’s Tesla) have announced they are suspending ads on the social network. Earlier this month, Musk said the growing decline in advertiser spending had led to a “massive decline in revenue”. He blasted the situation as “extremely screwed up!”
Musk spent his first few weeks running Twitter to implore advertisers to stay on the platform and also making the platform less dependent on advertising dollars by adding more subscription options, including a controversial option to pay for verification. This latest feature has led to a flurry of accounts impersonating top brands on the platform.