Platformer’s Zoe Schiffer tweeted that Amazon was planning to resume its ad business on Twitter, and has set aside a cash pool of about $100 million in ad spending per year. Reuters reports that Amazon never actually paused its ad business on Twitter. Twitter is reportedly trying hard to win back its big advertising clients, and in an effort to do that, the company is offering a 100% value bump.
According to an email sent to advertisers, Twitter will offer double the ad exposure for every package worth $500,000. Per Reuters, the company sold the offer as “biggest advertiser incentive ever on Twitter,” and it appears that the deal found some enthusiastic takers. “Just a note to thank advertisers for returning to Twitter,” Musk tweeted yesterday.
This comes after Musk publicly proclaimed that Twitter had experienced a “massive drop in revenue,” adding that “a thermonuclear name & shame” would happen if advertisers continue to leave. The situation was apparently dire. Twitter lost half of its top 100 advertisers within a month of Musk’s leadership, with most of them leaving over risks of poor moderation and conflict of interest. Musk is said to have personally dialed some of the outgoing ad brands to vent his frustration.