Elon Musk to arm-twist businesses on X, brands need to spend $1000/month on ads or lose verified status

Elon Musk wants to arm-twist brands and businesses in to advertising on the platform, and is coming up with a policy that will take away the golden tick or verified status of brands if they don’t spend $1000 a month on ads, on top of the $1000 for the verified badge

Under Elon Musk’s charge of Twitter, now X, the platform’s advertising business encountered some unprecedented difficulties Because of this, Musk has been forced is currently taking proactive measures to revive its performance. However, since advertisers aren’t coming back on their own accord, it seems that Musk is adamant about arm-twisting brands on X to advertise on the platform

More than two months ago, Elon Musk announced that the majority of his advertisers had come back to Twitter, and he showed optimism that all issues had been addressed. To revitalize X’s advertising division, he appointed Linda Yaccarino, a well-respected advertising executive, as the new CEO.

Recent reports suggest that Elon Musk is planning to introduce a new approach regarding X’s gold verification badge. Under this strategy, brands will be required to spend a minimum of USD 1,000 per month on Twitter ads to maintain their gold verification badge. The purpose behind this move is to incentivize brands to invest more in X’s advertising platform and revitalize the company’s ad revenue.

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According to Business Insider, citing the Wall Street Journal as the original source, Twitter will begin removing the gold checkmark from businesses that fail to meet specific advertising spending thresholds.

Starting from August 7, businesses will need to allocate at least $1,000 (approximately Rs 81,000) on advertisements within 60 days or $6,000 (Rs 4.9 lakh approx) within 180 days to retain the coveted gold checkmark. The Wall Street Journal has reviewed an email sent to advertisers, informing them of this new policy.

In addition to the previously mentioned new policy, the recently rebranded Twitter, now known as “X,” is reportedly planning to offer up to a 50 per cent discount on specific advertisements.

As per the existing X’s verification plans introduced in January of this year through a blog post, businesses were already required to pay a monthly fee of $1,000 to maintain their gold verification badge on the platform.

With these recent developments, X appears to be implementing a range of measures to incentivize businesses to invest in advertising on the platform, while also providing discounts to attract advertisers.