X Corp. is cutting ad prices as it tries to woo brands back to the Elon Musk-owned platform.
The social network formerly known as Twitter is offering new incentives on certain ad formats in the U.S. and U.K. and warning brands that they will lose their verified status unless they reach certain spending thresholds, emails sent this week to advertisers and viewed by The Wall Street Journal show.
The company, which makes most of its money from advertising, has struggled to draw new ad commitments under Musk’s ownership in part because brands are concerned about Musk’s approach to management and content moderation. The advertising industry is also in a slump, and several media companies have begun offering brands discounts.
Read the full story on The Wall Street Journal here.