If you want to run ads on Elon Musk’s Twitter from here on out, you apparently will need to pay for verified status — or buy at least $1,000 worth of advertising each month.
Twitter said advertisers must subscribe to either Twitter Blue ($8/month and up) or Verified Organizations ($1,000/month) to be eligible to buy ads on the service, according to a notice titled “Building a better Twitter through verification,” shared by social media consultant Matt Navarra early Friday. A request for comment sent Friday to Twitter’s press email account received no response.
According to the notice, businesses that spend at least $1,000 monthly in advertising will be automatically verified and receive a gold check-mark badge.
“Starting April 21, your @account must have a verified checkmark or subscribe to either Twitter Blue or Verified Organizations to continue running ads on Twitter,” the message reads. “Business accounts spending in excess of $1000 per month already have gold checks or will soon, and they’ll continue to enjoy access to advertising without interruption at this time.”
The Twitter notice continues, "This change aligns with Twitter's broader verification strategy: to elevate the quality of content on Twitter and enhance your experience as a user and advertiser. This approach also supports our ongoing efforts to reduce fraudulent accounts and bots."
Last month Musk, speaking at a Morgan Stanley conference, said Twitter's ad revenue had dropped as much as 50% since he acquired the social media company. But he said a few large advertisers have continued to spend with Twitter, specifically thanking Disney and Apple as continuing as two of the biggest-spending marketers on the platform.
According to a report last month by the New York Times, Twitter is waiving the Verified Organizations fee for the 10,000 largest companies on the platform.
Separately, Twitter on Thursday (April 20) revoked legacy verified blue check-marks for thousands of accounts -- as part of requiring users to pay for Twitter Blue -- although some high-profile users still had the badges following the purge. Musk said he's "personally" paying for Twitter Blue on behalf of LeBron James, Stephen King and William Shatner (each of whom had complained about the move to charge for verification).
Musk has been aiming to boost Twitter revenue through subscriptions to make ends meet, even after Musk eliminated thousands of jobs. According to Musk, with the drop in ad revenue and Twitter's $1.5 billion in annual debt payments (on the roughly $12.5 billion in debt needed to close the transaction), the company was on pace to go bankrupt in four months unless he drastically slashed costs.
