X, formerly Twitter, discontinues the practice of promoting accounts within user timelines, impacting its “Follower Objective” advertising strategy. This shift, led by CEO Linda Yaccarino’s rebranding efforts, could reshape advertisers’ strategies on the platform.
16 August 2023 – Social media entity X, previously recognized as Twitter, has decided to discontinue the practice of advertisers promoting their accounts within the platform’s timeline to attract new followers, as per a report by Axios on Tuesday. The change, outlined in an email sent to advertising clients, affects “Follower Objective” ads, known as promoted accounts, which contribute over $100 million in global revenue to X annually.
The report suggests that X’s move to halt promoted account ads represents a significant shift in its revenue strategy. However, the company is yet to respond to a request for comment from Reuters.
Promoted follower advertisements have traditionally played a pivotal role for advertisers seeking to cultivate their presence and target specific audiences on the platform. This alteration in ad offerings could potentially reshape advertisers’ strategies on the platform.
CEO Linda Yaccarino, previously the advertising head at NBCUniversal, has embarked on a mission to reshape the company’s image since assuming the role on June 5. Her efforts include drawing back advertisers who withdrew from the platform due to alterations made by Elon Musk. – reference: Reuters
