Twitter has said it’ll 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 company tweeted on Tuesday that it might also loosen up its promoting policy on “reason-based promoting” within the United States, and moving forward, it might align its promoting policy “consistent with TV and other media policies.”
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 restricted promoting related to social causes.
“We consider political reach needs to 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 1000’s 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.