"X Is Working To Lure Smaller Advertisers As Elon Musk Keeps Alienating Big Brands; Social-Media Platform Has Had Preliminary Talks With Amazon To Sell Ads Through E-Commerce Giant's Ad-Buying Software" - WSJ
Portfolio Pulse from Benzinga Newsdesk
The social media platform formerly known as Twitter, now owned by Elon Musk, is seeking to attract smaller advertisers after alienating some of the largest brand advertisers. The company has initiated preliminary discussions with Amazon to utilize its ad-buying software to facilitate this new strategy.
December 08, 2023 | 5:18 pm
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NEUTRAL IMPACT
The social media platform is looking to emulate Facebook's strategy by targeting small businesses for advertising revenue.
While the article does not directly state any impact on Facebook (now META), the strategy to target small businesses is similar to Facebook's approach. This could lead to increased competition in the space, but the direct short-term impact on META is uncertain.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Amazon has been approached by the social media platform for its ad-buying software to help the platform attract smaller advertisers.
Amazon's involvement as a provider of ad-buying software could lead to an increase in its ad tech business, which is positive for the company. The partnership could expand Amazon's customer base and increase usage of its advertising services.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70