Advertisers warned to get used to Elon Musk's unpredictability with Twitter

The world's largest ad-buying company has reduced spending with Twitter by at least 40% as Twitter executives warn Musk will continue being unpredictable.

Published
Updated
1 minute & 8 seconds read time

The tumultuous takeover of Twitter by SpaceX and Tesla CEO Elon Musk will continue as the new Twitter owner continues his strategy of moving fast with development and breaking some stuff along the way.

Advertisers warned to get used to Elon Musk's unpredictability with Twitter 02

A new report from The Information has revealed that top advertisers have been warned that Musk's unpredictability at the company will continue and that they need to get used to it. The report also stated that Twitter executives are becoming more and more desperate for fresh revenue from advertisers, as GroupM, the world's largest ad-buying company, has reduced spending on Twitter by anywhere between 40% to 50%.

Notably, Twitter is experiencing an overall downturn in advertising spending as Elon Musk moves to open up the platform towards more free speech, broadening the variety of content on the platform. Unfortunately, some leading advertisers don't want their brands associated with the content that is now allowed on the platform, resulting in them pulling advertising spending, the aforementioned hemorrhaging of Twitter's advertising revenue.

Furthermore, advertiser spending on Twitter was the company's largest revenue stream prior to Musk's takeover, and since Musk has been at the helm, big advertisers such as Interpublic Group and IPG have chosen to pause ad expenditure on Twitter, citing new content guidelines.

"Going forward, to build a breakthrough Twitter 2.0 and succeed in an increasingly competitive world, we will need to be extremely hardcore. This will mean working long hours at high intensity. Only exceptional performance will constitute a passing grade," Musk wrote in the memo.

Buy at Amazon

Hyp NASA The Eagle Has Landed Men's Crew Socks 5 Pair Pack

TodayYesterday7 days ago30 days ago
$20.99$20.99$20.99
* Prices last scanned on 10/3/2023 at 1:11 am CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.
NEWS SOURCE:theinformation.com

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

Newsletter Subscription

Related Tags