Twitter has been losing advertisers ever since Elon Musk paid $44 billion to purchase the social media company. According to The Wall Street Journal, Twitter is trying to boost sales by giving away free advertising space.
The WSJ quotes emails it examined in which Twitter stated that it would match advertising expenditures up to a maximum of $250,000 as long as the entire half-million dollars’ worth of advertisements ran by the end of February.
Since ads accounted for the majority of Twitter’s $5.1 billion in revenue in 2021, the Wall Street Journal observes that persuading them to return is crucial.