Twitter, a microblogging website, has announced that as of Friday, April 21, 2023, users who do not subscribe to Twitter Blue will no longer be able to run advertisements on the platform.
This came after millions of accounts on the network had their legal blue checks removed as Elon Musk kept up his aggressive campaign for more subscriptions.
While this may result in a further decline in Twitter’s already-dwindling revenue from advertisements, the firm is expected to make more money from subscriptions as many organizations and people who were previously given the blue checkmarks will no longer be required to subscribe.
Building a better Twitter through verification, according to a notification from Twitter delivered to platform advertisers, stated, “Starting April 21, in order to continue advertising Twitter ads, your @account must have a verified checkmark or subscribe to either Twitter Blue or Verified Organizations.
“Business accounts who spend more than $1000 per month already have gold checks or will have them soon, and they will continue to have uninterrupted access to advertising at this time.
“This change is in line with Twitter’s larger verification strategy, which aims to improve both the user and advertiser experience and the quality of material on Twitter.”
Twitter also added that this strategy aids in the continuous efforts to lessen bots and bogus accounts. It added that by using one of these services, it will confirm that you are a real person or business.
In addition, it added that you’ll have a wider variety of creation tools along with a more noticeable organic presence, among other advantages. “We can’t wait for you to get going and enjoy a top-notch Twitter experience,” it said.
Until now, it was anticipated that Twitter’s ad revenue will increase by 28% in 2023. Insider Intelligence analysts said they were cutting a previous forecast of worldwide revenue of $4.74 billion by more than a third to $2.98 billion as trust in the platform deteriorates.
Principal analyst at Insider Intelligence, Jasmine Enberg, made the following comments in a report that was published earlier this month:
“Advertisers don’t trust Musk, which is the biggest issue with Twitter’s advertising business. Twitter must separate Elon Musk’s personal brand from the business’s brand in order to win back advertisers’ confidence and ad dollars.
Following Musk’s turbulent takeover of Twitter, several significant advertisers have already suspended their activities after the Tesla magnate relaxed the rules for content moderation and fired more than half of a 7,000-person workforce.
Since Musk assumed leadership of the company on October 27, fourteen of the top 30 Twitter advertisers have stopped running campaigns, according to research firm Pathmatics. According to Insider Intelligence, Musk’s plans to establish a subscription business “won’t make up for the lost ad revenue.”
Musk spent $44 billion to acquire Twitter. Musk, however, asserted that he only saw the company’s true value after taking over, which explains why he is adamantly promoting premium memberships to support the company’s revenue.
