According to an email issued on Thursday to ad agencies, Twitter is providing incentives to advertisers to raise their spending on the site in a bid to revive its business after Elon Musk's takeover caused many corporations to pull back.
Newsletter Marketing Brew was the first to report on the incentive offer's specifics.
According to the email seen by Reuters, Twitter described the offer as the "largest advertiser incentive ever on Twitter." According to the email, US advertisers that commit to incremental expenditure of $500,000 (approximately Rs. 4 crore) or more would be eligible to have their spending matched with a "100% value add," up to a $1 million ceiling.
In his first month as Twitter's owner, Musk has reduced the number of personnel, including those responsible for content moderation, and there have been instances of spammers pretending to be representatives of well-known public firms, which has alarmed the advertising sector.
Since the acquisition, many businesses, including General Mills Inc. and luxury manufacturer Audi of America, have cancelled or suspended their Twitter advertising, and Musk said in November that the firm has experienced a "huge" decline in income.
Musk blamed a coalition of human rights organisations that had been pressuring the platform's major advertisers to take action if he did not safeguard content moderation when he earlier claimed that Twitter was seeing a "huge decrease in income" as a result of the advertiser withdrawal.
About 90% of Twitter's revenue comes from ad revenues.
A request for comment from Reuters did not receive a response right away from Twitter.
According to the email, marketers in all other locations that spend $50,000 (approximately Rs. 40,57,100) would earn the match, while advertisers in Britain and Japan that book $250,000 (about Rs. 2 crore) in additional expenditure would receive a 100% match.
Prior to the closing of his transaction, Musk stated earlier in October that he wanted Twitter to be "the most respected advertising platform" rather than a "free-for-all hellscape.
