A Third Of Key Advertisers Have Stopped Marketing On Twitter Since Elon Musk Takeover, Report Claims

A Third Of Key Advertisers Have Stopped Marketing On Twitter Since Elon Musk Takeover, Report Claims

More than a third of Twitter's biggest advertisers have stopped marketing on the site since Elon Musk took over, according to a new report.

New revelations suggest that Musk's purchase of the controversial site could cause serious problems for the company.

The new CEO suggested that activists were pressuring advertisers to shut down the site, weakening the site's assets.

But instead, the companies say the problem is a "brand safety" threat, likely the result of poor content moderation. Mr. Musk fired more than half of Twitter's employees, many of whom worked to sell ads and keep problematic posts out of trouble.

"Mars began blocking advertising activity on Twitter in late September after becoming aware of security and brand compliance issues affecting our products," the company said in a statement to The Washington Post , which first disclosed the data from brand analytics firm Pazmatics. : .

Other major companies that have stopped advertising include Kellogg, Verizon and pharmaceutical company Merck, according to a Washington Post analysis.

Overall, more than a third of the site's top 100 marketers haven't advertised on social media in the past two weeks. Of the top 50, 14 have not been disclosed since Mr. Musk took over the company.

The impact of Mr. Musk's control may not be limited to publicity issues. Growing concerns about the state of the US economy mean many advertisers are reluctant to spend money to increase market share.

But either way, the questions could spell trouble for Mr. Musk. Twitter got nearly 90% of its revenue from licensing last year.

The new CEO suggested going for subscriptions and memberships. It has repeatedly touted its new $8 Twitter Blue service, which includes perks like blue ticks next to people's names, though it has had to repeatedly delay the feature's launch due to widespread imitation.

CEO of Tusk Ventures says Elon Musk hasn't pitched a new idea on Twitter yet.

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