SpaceX allocated $250,000 to buy ads for Starlink on Twitter, one of the largest ad packages

SpaceX has purchased one of the largest advertising packages from Twitter to promote its Starlink satellite Internet service.

Here's What We Know

Amid the withdrawal of advertisers, Elon Musk has begun selling his own ads. SpaceX will pay $250,000 for the rate. Ads for the satellite Internet service will be displayed on top of the main feed throughout the day.

Despite the fact that Twitter has nearly 240 million monetizable users, the purchase of the $250,000 tariff will not be able to compensate for the losses the company faced after the change of ownership. Interpublic Group agency recommends its clients temporarily refuse to place ads in the social network. In addition, Audi, GM, Volkswagen and United Airlines have already taken such a step. At the same time, advertising brings Twitter 90% of its total revenue.

The social network also doesn't play into the hands of the fact that everyone could get the blue verification mark for $8. Such accounts were used by pranksters and fraudsters. Because of the fake accounts with the verification mark some major companies suffered, including Lockheed Martin, Nestle and Eli Lilly.

Source: CNBC