Twitter will soon begin paying verified content creators for ads in their replies, with the first payment block of around $5 million, company owner Elon Musk said on Friday.
"Note, the creator must be verified and only ads served
to verified users count," Musk, the billionaire who bought Twitter last
October, said in a tweet.
Since Tesla CEO Musk acquired Twitter, the platform has
struggled to retain advertisers, who have been wary about the placement of
their ads after the company laid off thousands of employees.
The move comes as Twitter's newly named CEO, Linda
Yaccarino, an advertising veteran from NBCUniversal, is about to take the helm
at the social media platform.
In March, Musk said that the messaging service makes about 5
or 6 cents per hour of attention from users and could raise that to 15 cents or
more with advertisements that are more relevant and timely.
The move comes as Twitter's newly named CEO, Linda
Yaccarino, an advertising veteran from NBCUniversal, is about to take the helm
at the social media platform.
In March, Musk said that the messaging service makes about 5
or 6 cents per hour of attention from users and could raise that to 15 cents or
more with advertisements that are more relevant and timely.
Meanwhile, Twitter alongside Meta Platforms' Instagram,
Alphabet's YouTube, and TikTok could face regulatory action after European
consumer group BEUC complained to the European Commission and consumer
authorities that the online platforms allegedly facilitate the misleading
promotion of crypto assets.
US regulators suing crypto platforms Coinbase and Binance,
along with last year's collapse of FTX, have sparked concerns over consumer
protection related to crypto assets such as Bitcoin and ether.
The European Union last month adopted the world's first
comprehensive set of rules for cryptoasset regulation (MiCa).
BEUC in its complaint filed on Thursday said the
proliferation of misleading advertisements of crypto assets on the social media
platforms is an unfair commercial practice as it exposes consumers to serious
harm such as the loss of significant amounts of money. © Reuters
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