X Corp says will allow political ads from candidates, parties ahead of US presidential polls | Mint - Mint

The social media company X Corp. said on Tuesday that it will allow political advertising in the US from candidates and political parties.

X will expand its safety and elections team ahead of the 2024 presidential election, said the Elon Musk-owned company in a blog post.

The latest move by X to allow all political ads in the US could help it in increasing its revenue at a time when many advertisers have fled or reduced spending on the platform .

X said it would create a global advertising transparency center to allow users to see what political ads were being promoted on its platform.

It would also continue to prohibit political ads that spread false information or seek to undermine public confidence in an election, added the company.

Musk acquired the company in last October.

The social media company was formerly known as Twitter.

Since 2019, all political ads were banned globally on Twitter.

In January, the company had lifted the ban and began allowing “cause-based ads" in the US that raise awareness on issues such as voter registration. It had also said that it planned to expand the types of political ads it would allow on the platform.

The social media giant said that it would grow its teams to combat content manipulation and emerging threats.

On August 10, X Corp. CEO Linda Yaccarino had said that she has been focussing on trying to get big brands back and advertising on the social media platform.

“I’ve lived on a lot of planes lately, direct conversations with CMOs and CEOs, and we cover a lot of ground and I focus on those that have either maybe paused or reduced spending to remind them about the power of the platform and the power of the user base and the economic potential of them partnering with us again," she had told CNBC.

Many companies had cut their ad spending on the platform over concerns that Musk's thinning of content restrictions was enabling hateful and toxic speech to flourish.

(With inputs from agencies)