By Leah Montebello
SpaceX has snapped up an ad package to test the effectiveness of Twitter advertising as Elon Musk pushes to grow his newly acquired social media firm.
In a tweet this morning, founder Elon Musk said his SpaceX arm Starlink had “bought a tiny – not large – ad package” to test advertising in Australia and Spain.
He added that the satellite firm had done something similar across Facebook, Instagram and Google.
One current and one former Twitter employee told CNBC that packages typically cost companies upwards of $250,000, where brand messaging will feature on the first three times that a user opens the Twitter app on the day.
The news comes as Twitter continues to lose advertisers under the steer of Musk, who took over the company at the end of October.
Mega firms like General Motors and Mondelez have paused advertising on the US firm, as fears mount around potential changes that could be brought in under the eccentric billionaire.
Twitter previously nabbed around 90 per cent of its revenue from advertising.
Musk is also CEO of electric vehicle giant Tesla, which has seen its share price tumble since he launched his takeover of Twitter.
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