Elon Musk has scared off many advertisers, but media outlets and sports leagues are making too much money from the platform to leave.
Unlike many advertisers who decided to flee Twitter because of Elon Musk’s policies, others decided to stay. This is the case of many American media and sports leagues which earn part of their income thanks to the social network, reports the American media Axios.
Under a selective program called Twitter Amplify, media outlets and sports leagues have entered into agreements with Twitter in recent years, ranging from one to three years. This program matches advertisers with publishers who they share with Twitter to earn a percentage of the advertising revenue generated by their videos.
Most of these partnerships are multi-year deals and were negotiated before Elon Musk took over as Twitter CEO. Some deals, like that of the National Football League (NFL), represent a colossal seven-figure value.
Agreements around world events
Thus, information services such as the Wall Street Journal, Reuters, Axios, Bloomberg, Forbes Where USA Today are expected to make content deals with Twitter around big events like the World Economic Forum in Davos, CES, and Pride Week.
This year, the NFL, Twitter’s largest content partner, the NBA, and others plan to make Twitter content deals around major games and events, like the Super Bowl. For their part, sports publishers such as CBS Sports, ESPN or Telemundo should also conclude agreements around key sporting events.
Paramount and Disney are expected to air content related to award shows, concerts and prime time hit shows.
And Axios noted, “there are few financial downsides to staying in content deals. But companies and leagues don’t want to let people know they’re still in those deals because they fear reputational damage. by Musk-era free speech on Twitter.”
After the takeover of Twitter by Elon Musk, nearly one in three advertisers withdrew from the platform while advertising represents 90% of the social network’s revenue.
