Dorsey said the company is recognizing that advertising on social media offers an unfair level of targeting, compared to other mediums. It is not about free expression, he asserted.
“This is about paying for reach. And paying to increase the reach of political speech has significant ramifications that today’s democratic infrastructure may not be prepared to handle,” he tweeted. “It’s worth stepping back in order to address.”
Twitter currently allows only certified campaigns and organizations to run political ads for candidates and issues. The latter tend to advocate on broader issues such as climate change, abortion rights and immigration.
The company said it will make some exceptions, such as allowing ads that encourage voter turnout. It will describe those in a detailed policy it plans to release on Nov. 15.
Federal campaigns are expected to spend the majority of advertising dollars on broadcast and cable channels during the 2020 election, according to advertising research firm Kantar, and about 20% of the total $6 billion in spending on digital ads.
Twitter’s policy will start on Nov. 22.