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

One of the biggest concerns Elon Musk was when he adopted Twitter Advertisers and brands will leave the platform and stop spending on ads As it turns out, Kasturi’s fears were well founded. A recent report by The Washington Post suggested that a third of Twitter’s top 100 advertising clients had not advertised on the platform for the past two weeks.

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

Many of Twitter’s top advertisers, including 14 of the top 50 advertisers, have cut their ad spending in the weeks since Musk’s acquisition. Ads by brands including Zip and Mars Chocolate, whose corporate parents were among the platform’s top 100 US advertisers six months before Musk bought it, haven’t run since Nov. 7, weeks after Musk took ownership of the platform on Oct. 27.

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

Twitter is still heavily dependent on advertising. Last year, about 90 percent of the company’s $5 billion in revenue came from advertising, with the rest from data licensing and other services.

One of the biggest reasons advertisers are turning away from Twitter is with Twitter’s staff anger. More than the number of people who quit or those who quit, it was the departure of key people that scared advertisers and brands. While Twitter has many policies in place to combat hate speech, advertisers feared that the departure of many key enforcers and content moderators would mean nothing of such policies.

There is also the use of racial slurs Musk rose quickly after taking control of Twitter. The fact that Musk and his team have been able to reduce it and bring hate speech Twitter dropped to an all-time lowAdvertisers have to give some confidence.

Then there was the wave Impersonated or fake verified accounts caused by Mask’s concept of paid verification Or buy a verified badge for $8. The plan backfired so badly that Musk had to suspend it just days after rolling it out. Musk has since said he won’t be reintroducing paid verification or Twitter Blue for $8 programs until they find ways to deal with impersonation of organizations and key people.

In addition to the internal turmoil at Twitter that arose from the termination and resignation of one person and the verification of payments, the world is on the brink of recession. Even before Musk took over, marketers were pulling back on their digital advertising because of concerns about the expanding economy.