Twitter is pulling out all the stops to generate new income, demanding that advertisers spend at least $1,000 monthly on advertising.
This week, Twitter mandated that organizations subscribe to Twitter Blue, starting at $8 monthly unless they spend the hefty amount each month. Failing to do either will result in them no longer being able to buy ads. Businesses that do spend the necessary minimum on ads will automatically receive their verification and a gold-check mark.
According to Elon Musk, Twitter’s ad revenue has dipped 50% since he acquired the platform. This can likely be attributed to the chaotic deal that nearly didn’t happen. If you recall, former Twitter owners sued Musk in July 2022 for trying to back out of the purchase after initiating the sale. In October 2022, he eventually gave in and paid $44 billion to buy the platform. Even after the acquisition was complete, things remained tumultuous with a rash of layoffs and Twitter Blue’s rocky rollout. The subscription service is part of Musk’s bailout plan, though he credits Disney and Apple with remaining the two biggest ad spenders on Twitter.
On Thursday, the app began revoking legacy verified checks to thousands of accounts. Beyonce and LeBron James are among the string of mega-celebrities who lost their blue checks. However, Musk has confirmed that he’ll foot the bill for James’ blue check, as well as Stephen King’s and William Shatner’s, all of which who’ve refused to pay for verification.
