A third of Twitter’s biggest advertisers have stopped marketing on the site since Elon Musk took over.
Against this backdrop, a new report claims that more than a third of Twitter’s top advertisers have stopped marketing on the site since Elon Musk took over.
The new findings indicate that the company could face serious problems due to Musk’s controversial purchase of the site.
Concerned about brand integrity
The company’s new boss says activists have pressured advertisers to stay away from the site in an attempt to undermine the site he owns.
But the companies say that isn’t the problem, but rather concerns about “brand integrity,” which could stem from poor content control.
Most of the people fired by Musk, who fired more than half of his Twitter staff, were reportedly working on selling ads and making sure those ads didn’t appear with problematic posts.
In this context, the “Washington Post” newspaper said that one third of the main advertisers on the “Twitter” platform stopped their ads in the last two weeks.
More than a third of the top 100 marketers have advertised on Twitter in the past two weeks, according to marketing analytics from the Post, an indication of how volatile advertisers are after billionaire Elon Musk takes over the agency.
“Mars began pausing Twitter ads in late September when it became aware of significant brand integrity and compliance issues affecting our brand,” Mars, which first reported the data, told the Washington Post. of its Pathmatichs brand of analysis.
Other major companies to stop advertising on Twitter include Kellogg’s, Verizon and drugmaker Merck, according to an analysis by The Washington Post.
More than a third of the top 100 marketers have advertised on Twitter in the past two weeks, according to marketing analytics from the Post, an indication of how volatile advertisers are after billionaire Elon Musk takes over the agency.
Dozens of Twitter’s top advertisers, including 14 of the top 50, stopped advertising in the few weeks following Musk’s “messy” takeover of the social network, according to The Post analysis of data from Pathmatics, which provides analysis of the brand on Twitter. .
other reasons
The ad woes may not be solely caused by Musk’s acquisition of the company. Growing concerns about the US economy mean many advertisers may be less willing to spend on marketing to expand their market share.
But either way, these issues can cause problems for Musk. Twitter generated nearly 90 percent of its revenue last year from licensing.
The company’s new manager says he will focus on memberships and subscriptions instead. Though Musk has repeatedly pushed for a new $8 “Twitter Blue” service, which would include features like blue checkmarks next to usernames, he’s had to continually delay the feature’s release due to the proliferation of fake accounts.
