Elon Musk's aerospace company SpaceX has bought an advertising package from Twitter, the social media platform that he purchased for $44 billion, and where is also currently serving as CEO.
According to CNBC, the campaign will promote Starlink, a satellite internet service owned and operated by SpaceX, on Twitter in Spain and Australia.
The CEO's purchase of the ad campaign comes amid the issue that other advertisers are fleeing Twitter because of the billionaire's chaotic management of the social media platform, as per Gizmodo.
Elon Musk Claims SpaceX Purchased Just a Tiny, Not Large, Ad Package
In a tweet, the billionaire claimed that SpaceX purchased just a tiny, not large, ad package. He said it is done to test the effectiveness of Twitter advertising in Australia and Space. He added that the company did the same for Facebook, Instagram, and Google.
SpaceX recently purchased an ad package worth at least $250,000 from Twitter, which goes under a campaign package called the "takeover." With this, site users in Australia and Spain should be seeing Starlink-promoted content at the top of their Twitter timelines for every day of the takeover. They should be seeing the ads the first three times they open the social media platform.
CNBC notes that the campaign, which was purchased last week, was expected to start in the coming days, first in Australia, then in Spain.
According to the current and former employees of Twitter, who asked to remain unnamed, it is not typical for SpaceX to purchase large advertising packages from the social media platform. In fact, in May, SpaceX CEO said that his "companies don't buy advertising."
However, internal documents show that the aerospace company has spent more than $160,000 on the social media platform's ad campaign for Starlink in Australia and Spain.
Read Also: Elon Musk, Twitter's Legal Battle Now Involve Signal Messages
Major Brands Pause Their Twitter Ads
Shortly after Musk's takeover, some major brands like General Motors, Pfizer, and United Airlines started announcing pauses on their Twitter ads.
Some companies cited their concerns regarding content moderation on the site. This is despite Musk's attempt to assure that moderation of the platform hadn't changed.
Meanwhile, some companies said that they are still waiting to see how things will work out before resuming ads as the decision to pause it is a standard business practice during a transition.
Because of what happened, the social media company has lost a significant amount of revenue. Last week, the remaining Twitter employees were told by its CEO that bankruptcy is a possibility.
Musk is now in the position of needing to sell online advertising as the company's CEO. Before the billionaire's takeover of the company, Twitter boasted around 237.8 million monetizable daily active users.
Now, the billionaire must be able to generate at least half of Twitter's revenue from the subscribers, not just from advertising.
The advertisers' faith in the platform was further shaken when its CEO launched and then eventually suspended a paid subscriber badge on Twitter last week.
The badge will give users a verification blue check mark for $7.99 per month. However, it was used by pranksters and imposters to pose as brands, politicians, and celebrities. The pranksters and imposters eventually post fake and inaccurate messages.
Related Article: Twitter Could File For Bankruptcy, Elon Musk Tells Staff
