CNN has bought @CNNbrk for in an undisclosed financial arrangement from the previous owner.
From TechCrunch
I just got off the phone with James Cox (whose personal Twitter account is here), who created and has maintained the account. He confirms that CNN has in fact acquired CNNbrk. More details shortly. We’ve reached out to CNN PR for confirmation on their side.
As of this writing, CNNbrk has over 945,152 followers (and rising fast), making it the most popular Twitter account.
This marks the first public sale of a Twitter account and if Jason Calacanis is right on his calculation of the proxy value of having hundreds of thousands of followers, then the account must have sold easily for over $250K
This also marks an new shift on brand ownership. Corporations don’t have a monopoly on their brand any longer. Users have the power to make or break a brand and corporations should be ready to respond and engage with brand friends and foes in a fun and full contact sport called social media.
What’s disturbing about this though is that according to MarketingSherpa, Two-thirds of marketers who work for organizations that have not used any form of social media marketing or PR consider themselves “very knowledgeable” or “somewhat knowledgeable” about this emerging strategy.
We will see many brands plunge into Twitter without fully understanding the medium and potentially making grand mistakes that might be costly to social media adoption. I disagree with Marketing Sherpa’s assertion that marketers’ “overconfidence in unproven ability can doom social media initiatives to failure”, but I also think that the grand mistakes will force them to seek expert advice which can help the professionalization of the practice.
Marketing Sherpa’s remarks go on to say that “You may have spent a lifetime watching hours of television on a daily basis and being exposed to an infinite number of commercials in the process but, based on that, would you consider yourself knowledgeable about producing a TV commercial? Of course you wouldn’t.”
My advice? Seek help from the pros but set measurable goals and tie them to the agency’s performance.