X has shut down $100 million worth of promoted accounts ad business on its platform, and will not allow advertisers to promote their accounts within the platform’s timeline to attract new followers, reports said on Tuesday.
According to an email to advertising clients seen by Axios, the company said it planned to start “depreciating the Followers objective” ad unit “beginning as soon as last Friday”.
The change “comes as part of a larger effort to optimize the X experience by prioritizing content formats.”
Promoted accounts or “Follower Objective” ads generate more than $100 million annually in global revenue for X, the report informed.
Promoted accounts are one of the oldest ad formats offered on the platform.
The ads appear as text-based posts within the X timeline and include a “Follow” button for the account promoting them.
Several advertisers rely on promoted follower ads to grow their businesses.
Follower objective ad units also allowed marketers to target potential audiences with more precision than they could through organic tweets, the report mentioned.
The implication is that X seeks to nudge advertisers towards more multimedia-rich ad styles.
