Twitter has reportedly managed to woo back two of its biggest advertising partners, Apple and Amazon, marking a happy end to the saga of massive advertiser exodus in the past few weeks. Over the weekend, Twitter CEO Elon Musk spoke candidly in a Spaces live audio session, and revealed that Apple has "fully resumed" its advertising on the platform.
The admission came merely days after Musk tweeted that Apple had mostly paused its advertising activities on Twitter. This soon snowballed into a tirade against Apple's App Store "tax," with Musk claiming that Apple threatened Twitter's distribution via the App Store. That, however, didn't happen, which also robbed the world of seeing a mythical phone spearheaded by Musk.
However, Musk reportedly met Apple CEO Tim Cook later in the week and mended relations between the two companies. According to The Washington Post, Apple was the biggest ad spender on Twitter in the first quarter, and contributed a whopping 4% toward's the entire company's net revenue.
The company reportedly paid $48 million in 2022's first quarter towards advertising its products and services on Twitter. But Apple wasn't the only deep-pocket advertiser on Twitter that was playing it safe, it seems, as Amazon was reportedly reconsidering its stance as well.
Amazon was apparently loyal all along
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.