Twitter Inc. is offering advertisers incentives to increase their spending on the platform to jump-start its business after Elon Musk's takeover prompted many companies to pull back, The Wall Street Journal reported Thursday, citing people familiar with the matter.

Advertisers that book at least $500,000 in advertising would see their ad dollars matched 100% up to a $1 million cap, according to a company email to advertising agencies that the Journal viewed. Twitter will give a lower matching amount for ad spends below $500,000.

Sources tell WSJ the deal is good through the end of the year.

Following Musk's acquisition of the social media platform in late October, a number of major consumer brands have quit the platform or scaled back their spending. Their main concern is content moderation under Musk.

The company did not immediately respond to a Reuters request for comment.