Elon Musk’s SpaceX is investing in a Twitter advertising package.
Elon Musk’s SpaceX is investing in a Twitter advertising package. While many significant companies have declared advertising pauses on Twitter following Elon Musk’s takeover, the social media network has recently received a new ad purchase from Musk’s SpaceX.
Musk minimized the cost of the ad buy when confirming on Twitter on Monday that his aerospace company, SpaceX, had purchased a package to promote its Starlink internet service.
For any of Musk’s businesses, including Tesla, which shuns conventional advertising, the ad purchase would be a first.
Musk responded to a Twitter user by writing, “SpaceX Starlink bought a tiny – not large – ad package to test the effectiveness of Twitter advertising in Australia & Spain,” adding that he also did the same on rival platforms like Facebook, Instagram, and Google.
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His comments followed a story by CNBC on Sunday claiming that Musk had purchased “one of the biggest advertising packages available from Twitter” for SpaceX. The report was based on unnamed sources who had access to internal records about the order and was cited by CNBC. CNN Business reached out to SpaceX for comment, but they did not respond.
Some human rights organizations have called for an advertising boycott of the site in the weeks following Musk’s takeover of Twitter, citing worries about the platform’s direction under its new owner and claims that instances of hate speech had increased there.
Major corporations including General Mills, the North Face, and several automakers (which compete with Musk’s Tesla) have declared they are halting their social network advertising. Musk claimed earlier this month that a “huge decrease in revenue” has resulted from the increasing decline in advertiser expenditure. The scenario, he declared, was “very fouled up!”
In his initial weeks as CEO of Twitter, Musk has spent his time pleading with advertisers to continue using the service and seeking to reduce the platform’s reliance on advertising revenue by introducing more subscription alternatives, including a contentious option to pay for verification. The second function resulted in a flurry of profiles on the network imitating well-known firms.
