The news: X (formerly Twitter) is planning its first marketing campaign since Elon Musk took over in 2022, including promoting its payment platform, X Money, which aims to challenge contenders like Venmo and Cash App. Musk’s campaign could contribute to a further resurgence of brands and advertisers.
Apple has also resumed advertising on X after a 15-month pause, shortly after Amazon increased its ad spending on the platform. While advertisers initially left the platform in light of some of Musk’s controversial comments and questions over brand safety, major brands and tech platforms including Amazon have returned since Donald Trump’s reelection. Ad revenue on the platform increased 123% in December from a year earlier, per Guideline.