Elon Musk, the current owner of Twitter, has recently bought an ad campaign for his other business. The tech boss, this time, now wants to promote the internet satellite service of SpaceX.
SpaceX Ad Campaign on Twitter
(Photo : Twitter account of Elon Musk/AFP via Getty Images)
TOPSHOT - This video grab taken from a video posted on the Twitter account of billionaire Tesla chief Elon Musk on October 26, 2022 shows himself carrying a sink as he enters the Twitter headquarters in San Francisco. Elon Musk changed his Twitter profile to "Chief Twit" and posted video of himself walking into the social network's California headquarters carrying a sink, days before his contentious takeover of the company must be finalized.
In the following days, expect to see more ads related to SpaceX after Musk ordered a big advertising package for the internet satellite service provider.
Based on the internal records viewed by CNBC, Musk aims to promote the products of his company across Australia and Spain.
With the takeover of Twitter last month, the CEO looks forward to promoting what he can offer to the people through his other products.
Following his ad campaign purchase on Twitter which could cost $250,000 or more, Musk focuses on putting SpaceX on top of the ads on every Twitter feed, according to two anonymous sources.
One individual is reportedly working now on Twitter while the other one is a former staff member on the microblogging site. According to them, they have no authority to speak on behalf of the firm regarding the ad campaign.
The takeover campaign in two countries will mean that more ads will appear on their Twitter timelines one to three times per day. The campaign will first be run in Australia, followed by Spain at small intervals.
The unnamed Twitter employees also mentioned that SpaceX has not bought major ad packages from Twitter in the past.
Can Twitter Thrive in Ad Sales?
The acquisition of Twitter will not only mean that the platform will have new changes in the future. This will also mean that the product branding will change across Twitter.
In short, Musk will take advantage of the takeover by sporting his famous automaker brand on the platform. The social media engagement of Tesla is projected to be higher this time across several news sites and pages.
Musk simply wants to generate at least half of its revenue in general. The advertising part is just a tip of the iceberg for the newly-acquired company.
With the controversial ownership of Elon, several brands have already left the platform for good. This is another challenge that he must overcome to achieve good returns from ad campaigns.
Related Article: Elon Musk Rejects Former T-Mobile CEO's Offer to Run Twitter with Sounding 'No'
Twitter Bankruptcy
With many companies fleeing from Twitter, Musk is aware that the stakes are already high for the company. According to Livemint, if Elon files for bankruptcy, he will be bankrupt in investing.
In a meeting with his employees last week, Musk said that the financial pathway of the company remains uncertain at the moment and "bankruptcy isn't out of the question."
In the same week, Musk's lawyer told the staff that each of them won't be individually liable to the FTC if the company encounters a dire situation.
Musk assures that the employees wouldn't face FTC charges and that Twitter alone will make up for the compensation.
This article is owned by Tech Times
Written by Joseph Henry
