Half of Twitter’s advertisers have disappeared from the platform since Elon Musk took over

Share This Post

If you thought that the story ends after Elon Musk acquired Twitter, and it’s going to be “happily ever after” for the world, then you were clearly wrong. Even after around a month of Elon Musk taking the reigns of Twitter, the story only consists of chaos, layoffs, and a lot of drama.

According to a research report by the not-for-profit media watchdog, Media Matters for America, the Tesla Head (also Chief Twit) has already driven away half of the top advertisers from Twitter. Out of the 100 top advertisers on Twitter, 50 have stopped advertising on the platform. The report says, “These advertisers have accounted for nearly $2 billion in spending on the platform since 2020, and over $750 million in advertising in 2022 alone.”

“These advertisers have accounted for nearly $2 billion in spending on the platform since 2020, and over $750 million in advertising in 2022 alone.”

It also points out that along with the advertisers that have altogether stopped advertising on the platform (as of 21st November), there are seven more advertisers who are slowly reducing their spending to almost nothing. These seven advertisers have been responsible for around $255 million in spending on Twitter and also around $118 million in advertising in the year 2022.

According to the analysis, while some of these have quietly stopped advertising on Twitter, many have openly announced or issued statements that they have stopped advertising. This list includes top brands like Chevrolet, Ford, Jeep, Novartis AG, etc. The “quiet quitters” include Chanel, Kellogg, Dell, Nestle, BlackRock, LinkedIn, etc.

Advertisers grew more concerned when Twitter’s Head for Trust and Safety, Yoel Roth resigned from his position. The world’s largest media buying agency, GroupM also told its clients that Twitter is now a “high risk” media buy following so many controversies and confusion.

Many advertisers have voiced out how the platform’s potential new strategies for content moderation can affect their brand image. In spite of incurring advertising losses, Elon Musk has not stopped with his rash actions like reinstating accounts that are banned, the $8 blue tick, and more.

Musk’s Twitter is seemingly becoming more dangerous and is nurturing a concerning environment.

Also Read:  How Not to Do Marketing: More Social Media Disasters


Please enter your comment!
Please enter your name here

Stories You May Like

Related Posts

AltspaceVR by Microsoft announces to shut down permanently

As Microsoft has announced layoff of about 10000 employees,...

Shark Tank Season 2: Amit Jain is a Part time CEO, Full time …..?

Known to have co-founded CarDekho, Amit Jain is the...

Crypto Lender Genesis Files for Bankruptcy as Crisis Spreads

Cryptocurrency lender Genesis Global Holdco LLC filed for bankruptcy,...

This is how much each shark has invested till now in Season 2!

Shark Tank India Season 2 is showcasing some captivating...

Will Donald Trump return to Facebook? Meta all set to make the decision

Donal Trump is again on Twitter after Elon Musk,...
- Advertisement -