Since the acquisition of Twitter by Elon Musk, complications ensue. The billionaire even laid off 7,500 employees, i.e. nearly half of the workforce. To bail out the coffers of a social network that seems to be in a financially complicated situation, Elon Musk will call on another of his companies, SpaceX.
An uncertain future
The situation is chaotic to say the least. The billionaire himself admitted it: the future is very worrying for the social network. He admitted to his staff that the economic situation is dire, and that Twitter may not survive the next economic downturn. Several large companies such as General Motors and Volkswagen have announced that they are suspending their advertisements, even though 90% of revenues come from advertising. This trend should even increase and other tenors should follow suit. In addition to this catastrophic financial situation, the businessman wishes yet make the certified accounts pay via a monthly subscription called “Twitter Blue”, to keep the small blue icon enthroned next to the nickname of certain public figures. A heresy for many users.
The majority of employees also do not trust the new owner of the platform, bought $44 billion. The priority for the businessman is to recover the losses. So, in an attempt to calm the situation and allow Twitter to breathe economically, Elon Musk calls on SpaceX in order to buy a huge advertising campaign.
promote starlink to save twitter
Officially, SpaceX will promote its Starlink Satellite internet service, mainly in Spain and Australia, for the sum of $250,000. Internet users located in these countries will soon see an announcement of the service when Twitter users open the application. Of course, this is no coincidence. Musk is using one of his companies to save another. This situation is all the more paradoxical since the businessman has always highlighted the fact of don’t spend money on traditional advertising whether for Tesla or SpaceX.
Major advertising agencies such as GroupM or Omnicom have advised their customers to no longer invest in ads on the platform. This disastrous trend has been created since the massive dismissal and the idea of a monthly subscription for the holders of the icon of verified accounts, which are in reality alerts concerning the dubious financial situation of the company. The purchase of advertising SpaceX should act favorably only in the short term.