Twitter will expand its political advertising policies under new owner Elon Musk, who took over the platform in October, according to the Wall Street Journal. Former CEO Jack Dorsey banned most political ads in 2019, saying political messages should be earned and not bought.
The social platform will also allow more caused-based ads, which include promoting social and environmental action. Relaxing Twitter’s rules on political and cause-based ads could help drive revenue to the flailing platform.
Twitter hasn’t earned a profit since 2019, and Musk’s first few months as CEO have been marked by excessive cost-cutting, which includes layoffs, program shutdowns and not paying rent for multiple office buildings.
Like most social media companies, Twitter’s revenue comes from advertising. The platform’s ad offerings were lacking before Musk took over, and his ownership has led many advertisers to take a wait-and-see approach, and many paused their spending. Others pulled out entirely.
Musk has worked to diversify Twitter’s revenue sources by expanding Twitter Blue, its subscription service. Twitter didn’t respond to the Observer’s request for comment.