Twitter announced that it will extend the types of political advertisements permitted on its social media platform, an apparent reversal of its 2019 global ban on political advertisements, as the Elon Musk-owned firm attempts to increase income.
The business tweeted on Tuesday that it will also modify its advertising rules for “cause-based commercials” in the United States, and would align its advertising policy “with those of TV and other media channels” moving ahead.
Twitter banned political advertisements in 2019, following widespread accusations that it and other social media platforms, such as Facebook, allowed election misinformation to propagate on their platforms. It also prohibited advertisements for social purposes.
“We believe political message reach should be earned, not purchased,” tweeted Twitter’s then-CEO Jack Dorsey to announce the change.
Since Musk took control of Twitter in late October, corporate advertisers have fled as a result of the Tesla CEO laying off thousands of employees, reversing the permanent suspension of former President Donald Trump, and rushing a paid verification feature that resulted in scammers impersonating publicly traded companies on Twitter.
Musk justified his drastic cost-cutting initiatives last month and stated that Twitter was facing negative cash flow of $3 billion next year.