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Report: A Third of Twitter's Top Businesses Stop Ads

Report: A Third of Twitter's Top Businesses Stop Ads
Twitter headquarters in San Francisco, California. (David Odisho/Getty Images)

By    |   Friday, 25 November 2022 07:17 PM EST

Since Elon Musk bought Twitter in late October, advertisers have been wary about the direction the social network might take under his leadership.

According to The Washington Post, the impact of Musk's purchase on Oct. 27 has resulted in an exodus of nearly a third of the company's top 100 marketers, who have not advertised on the platform in the past two weeks. The newspaper reported it analyzed data from Pathmatics, which it said offers brand analysis on digital marketing trends.

Vehicle brand Jeep, made by Stellantis, and Mars, Incorporated, which makes candy, foods and pet products, were among Twitter's top 100 advertisers in the six months before Musk's purchase, but they haven't advertised on the platform since at least Nov. 7, the Post reported.

Stellantis told The Detroit News in an article published Nov. 7 it was "pausing" paid advertisements for Jeep SUVs and Ram trucks "until we have a clearer understanding of the future of the platform under its new leadership."

Pharmaceutical company Merck, cereal maker Kellogg, Verizon, and Samuel Adams brewer Boston Beer also have stopped their advertising in recent weeks, the Post reported, citing the Pathmatics data.

Musk has made sweeping changes since purchasing the company and caused a recent stir by promising amnesty to suspended programs; he recently reinstated former President Donald Trump's account, which was suspended following the Jan. 6, 2021, riot at the U.S. Capitol. Trump said he wouldn't return to Twitter if Musk reinstated his account because he established his own platform, Truth Social, even though his audience there is significantly smaller.

The Washington Post story did not have a comment from Musk, but in a Nov. 4 tweet, Musk wrote: "Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists. Extremely messed up! They're trying to destroy free speech in America."

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Since Elon Musk bought Twitter in late October, advertisers have been wary about the direction the social network might take under his leadership.
twitter, elon musk, big tech
346
2022-17-25
Friday, 25 November 2022 07:17 PM
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