Twitter has said it is going to expand the kinds of political ads allowed on the social media platform, an apparent reversal of its 2019 global ban on political ads, because the Elon Musk-owned company seeks to extend revenue.
The corporate tweeted on Tuesday that it could achieve this as well chill out your promoting policy on “reason-based promoting” in the US, and further motion would align its promoting policy “in keeping with that of television and other media.”
Twitter banned political ads in 2019 after it and other social media corporations like Facebook faced widespread criticism for allowing the spread of election misinformation on their services. It also limited promoting related to social causes.
“We consider political reach must be earned, not bought,” tweeted Jack Dorsey, then CEO of Twitter, announcing the move.
Since Musk took over Twitter in late October, corporate advertisers have fled in response to Tesla’s CEO shedding hundreds of employees, reversing former President Donald Trump’s everlasting suspension, and accelerating a paid verification feature that sees scammers impersonate listed corporations on Twitter.
Last month, Musk defended his deep cost cuts and said Twitter faces $3 billion in “negative money flow” next 12 months.