More from the article...
...Elon Musk's Twitter is offering brands generous incentives to advertise on the social media platform, in a bid to boost business after the billionaire's approach to content moderation prompted many major marketers to curb spending.
In one email sent to advertising agencies, a copy of which was seen by the Financial Times, Twitter said that it was launching its "largest advertiser incentive ever" in December, offering additional impressions if brands spent a certain amount.
According to the email, Twitter will match the spending of those who pay at least $500,000 with a cap of $1 million per advertiser. Those spending $350,000 will receive "50 percent value add""meaning they receive additional impressions worth half of what they spend. A $200,000 investment grants advertisers a "25 percent value add," or extra impressions worth a quarter of what they spend.
Another email sent to a separate agency, also seen by the FT, contained that same offer for US brands, as well as slightly different offers for brands in the UK and the rest of the world, for example.
The attempt to lure advertisers comes as Musk, who closed his $44 billion deal for the social media platform in October, has increasingly alienated brands and advertising agencies by loosening Twitter content moderation policies, undoing suspensions of rule-breaking accounts and laying off more than half of the workforce, including many of its ad sales team.
Brands including Mondelez, Carlsberg, United Airlines, and General Motors have ceased advertising on the platform, while agencies including Omnicom Media and Interpublic Group have recommended their clients pause spending, dealing a blow to Twitter's $5 billion business.
Musk is on the hook for $1 billion in annual interest payments after loading the company with $13 billion of debt to help fund his acquisition of the business....
