While a lot of prominent firms have paused their advertising on Twitter in the aftermath of Elon Musk’s takeover, the platform has received a new ad buy from one significant billion-dollar company: Musk’s SpaceX. Musk revealed on Twitter Monday that his aerospace company, SpaceX, purchased a Twitter ad package to promote its Starlink internet service, though he minimized the extent of the ad spend.
The advertisement would be the first for any of Musk’s firms, including Tesla, which does not use traditional advertising. “SpaceX Starlink bought a tiny – not large – ad package to test the effectiveness of Twitter advertising in Australia & Spain,” Musk wrote in a response to a Twitter user, adding that he did the same with competitors including Facebook, Instagram, and Google.
His comments come after CNBC reported on Sunday that Musk had ordered “one of the biggest advertising packages available from Twitter” for SpaceX, citing unnamed insiders who had accessed internal documents. CNN Business reached out to SpaceX for comment, but they did not respond.
— SpaceX (@SpaceX) November 12, 2022
In the weeks since Musk completed the buyout of Twitter, some human rights organizations have called for an advertising boycott, citing concerns about the network’s trajectory under its new owner and claims of increased hate speech on the platform.
A number of large firms, including General Mills, the North Face, and several automotive companies (including Musk’s Tesla), have indicated that they will pause advertising on the social network. Musk stated earlier this month that the ongoing decrease in advertiser spending has resulted in a “huge drop in income.” He described the situation as “extremely messed up!”
Musk has spent his first weeks as CEO of Twitter pleading with advertisers to stay on the platform while also seeking to reduce the platform’s reliance on ad dollars by offering more subscription alternatives, including a contentious option to pay for verification. The latter function resulted in a flood of accounts imitating well-known brands on the network.
While many large companies have pulled their ads off Twitter since Elon Musk took control, SpaceX, which Musk co-founded and is worth an estimated $5 billion, has placed a new ad buy. Musk announced on Monday through Twitter that his rocket firm, SpaceX, has purchased a Twitter ad package to advertise its Starlink internet service.
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