Twitter has increased the price of their Promoted Trends feature to $200,000 per day. The new pricing went into effect earlier this year and represents a 33 percent increase over the previous price of $150,000 and a 150 percent increase over the $80,000 asking price when the service launched in 2010.
It's serious money for the microblogging site as they could make $73 million over the course of a full year if they sold one ad spot each day at the new rate. Given the fact that pricing continues to climb, odds are they aren't having a tough time filling the slots.
The service, an extension of the promoted tweets platform, allows an advertiser to purchase a trending topic which sits at the top of the trending topics list on Twitter. They are clearly marked with a yellow arrow and the word "Promoted" and work just like any other trending topic would. A user can click the promoted trend to view all tweets containing the trending hastag or trending terms.
$200,000 per day may seem like an awful lot of money for the average Joe but if you are a major business looking to increase interest in a given product, service or event, it appears to be a viable advertising campaign. Companies like HBO, Hyundai USA, JetBlue, Samsung and Virgin are just a few companies that have taken advantage of the service thus far.
All of this comes as Twitter may be preparing to go public as early as next year. According Greencrest Capital, the platform could be worth as much as $11 billion by this time next year.