More than a third of Twitter’s top 100 customers haven’t advertised on the platform in the past two weeks – Technology News, Firstpost


One of the biggest fears of it Elon Musk had it when he took over Twitter Is that advertisers and brands will leave the platform and stop spending on ads. It turns out that Musk’s concerns were justified. A recent report from The Washington Post indicates that more than a third of the top 100 advertising clients on Twitter have not advertised on the platform in the past two weeks.

More than a third of Twitter's top 100 customers have not advertised on the platform in the past two weeks

Many of Twitter’s top advertisers, including 14 of the top 50 brands, have cut their advertising expenses since Musk’s acquisition. Last year, nearly 90 percent of the company’s $5 billion in revenue came from advertising, making this a worrying situation for Musk and his team. Image credit: AFP

Several of Twitter’s top advertisers, including 14 of the top 50 advertisers, halted their advertising expenditures in the few weeks after Musk’s acquisition. Ads for brands including Jeep and Mars chocolate, whose parents were among the top 100 US advertisers on the platform in the six months before Musk’s purchase, have not started since Nov. 7, just weeks after Musk took ownership of the platform on Oct. 27.

Pharmaceutical company Merck, cereal maker Kellogg, Verizon and Boston Beer manufacturer Samuel Adams have also halted advertising in recent weeks, the report said.

Twitter still relies heavily on ads. Last year, nearly 90 percent of the company’s $5 billion in revenue came from advertising, with the remainder coming from data licensing and other services.

One of the biggest reasons why advertisers quit Twitter has to do with staff attrition at Twitter. More than the number of people who have been terminated or quit, it is the departure of some key employees that has spooked advertisers and brands. Although Twitter has many policies to counter hate speech, advertisers fear that the departure of several key enforcers and content moderators could mean such policies will mean nothing.

There is also the fact that the use of racial slurs It rose exponentially after Musk took control of Twitter. The fact that Musk and his team managed to reduce it and stir up hate speech Twitter fell to an all-time lowshould give advertisers some confidence.

Then there was an increase In impersonation or fake verified accounts that occurred due to Musk’s idea of ​​paid verification Or buy a verified badge for $8. The plan backfired so badly, that Musk had to put it on hold just days after it was brought up. Musk has since gone on to say that they will not relaunch paid verification or Twitter Blue for $8 until they have a way to deal with impersonation of key organizations and individuals.

Aside from Twitter’s internal turmoil created by someone’s termination and resignation, and paid verification, there’s also the fact that the world is on the brink of recession. Even before Musk took over, marketers were pulling back on their digital advertising as concerns about the economy spread.





Source link

Related Posts

Precaliga