Elon Musk’s aerospace company, SpaceX has bought one of the biggest advertisement packages on Twitter to drive its sales in Australia and Spain.
The advertisement package which is valued at $250,000 is coming amid a drop in Twitter’s revenue, Internal records have shown.
SpaceX operates satellite internet services called “Starlink” as a business segment. The company provides high-speed internet networks to people around the world, particularly in locations that are underserved or not served at all.
It could be recalled that Starlink provided critical connectivity to the Ukrainian military and some civilians during the wake of the Russian invasion.
Investors King has reported that a number of top brands which include Audi, General Motors, Pfizer, United Airlines, Volkswagen, and Ford have paused paid advertisement on the social media platform.
This is expected to hurt the company as the microblogging platform derives about 90 percent of its revenue from paid ads.
Meanwhile, Elon Musk has craved to reassure big companies that advertisements on Twitter platforms will not harm their brands. The world’s richest man who is also the CEO of Tesla however admits that some “dumb things” could happen in the process of creating what will be a “better user experience” for Twitter users.
A number of big brands and scores of small companies held a “Twitter Space” to showcase their grievances about the new content policy introduced by Elon Musk.
Following the complete acquisition of Twitter in a deal worth $44billion in late October 2022, Elon Musk has disclosed that Twitter will be open for free speech. As a signal, he tweeted ” The bird is freed”. He also intends to reinstate some suspended accounts including Donald Trump’s.
Some of the big companies which appeared on Twitter Space include Deutsche Bank, Chevron, Audi, Air Canada, and Nissan among others.
It is understood that the road ahead for Twitter under the new management could be rough as opposed to the social media giant’s previous run.
The hike in the platform’s verification checkmark from $4.99 to $7.99 is already facing stiff opposition from celebrities and some public figures who argued that “free speech could not be for sale”.