The Friend’s Mothers 4"internet's town square" is losing some of its billboards, as half of Twitter's top advertisers have reportedly pulled out of the social media platform after Elon Musk's acquisition.
According to a report by Media Matters for America, a nonprofit media research organization and "misinformation monitor", 50 of the top 100 advertisers have fled the app in the wake of the billionaire's decision to "revamp" the site. As of Nov. 21, the brands accounted for almost "$2 billion in spending on the platform since 2020, and over $750 million in advertising in 2022 alone," adding to a general downward shift in advertising dollars. An additional seven major brands, totaling $118 million of ad spending in 2022, have significantly slowed advertising.
SEE ALSO: Elon Musk says there will be three 'verified' Twitter checkmarks: blue, gold, and greyThe majority of brands are what the organization has labeled "quiet quitters," pulling out or subtly reducing their ad spending without a public announcement. Others, like Chevrolet, Chipotle, Ford, Jeep, and others, have issued statements on their departure.
Big brands have been reckoning with Musk's changes and controversial statements for weeks. Earlier this month, global corporate advertising agencies recommended that many of their largest clients pause spending for Twitter ads, including Omnicom Media (an agency representing big names like Apple, Mercedes-Benz, and McDonald's). Other brands, like Volkswagen, General Motors, and General Mills, also suspended all Twitter ad spending. Individuals and companies alike are leaving their accounts behind, like Broadway-beloved Playbill.
SEE ALSO: Elon Musk says there will be three 'verified' Twitter checkmarks: blue, gold, and greyIn a Q&A via Twitter Spaces on Nov. 9, Musk sidestepped the concerns of wary advertisers, insisting that nothing "bad" would soil the advertisements of major brands and that advertising would have heightened relevancy to users. “We all kind of work hard to make sure that there’s not bad stuff right next to an ad," Musk said.
That line of thinking, obviously, has not been entirely successful. And the failed rollout of Twitter's "democratized" blue check has had an even greater impact on brand images, as impersonated accounts wreaked havoc on companies' social media presences and stock market standings.
Musk's stance on the new Twitter environment has been one of complaint and blame-throwing. "A large coalition of political/social activist groups agreed not to try to kill Twitter by starving us of advertising revenue if I agreed to this condition," he tweeted. "They broke the deal."
Topics X/Twitter
New MIT report reveals energy costs of AI tools like ChatGPT
Did you catch these amazing 'Thor: Ragnarok' cameos?
Donald Trump's Twitter went down for several minutes
Amazon might want in on cryptocurrency
Best IPL deal: Save $80 on Braun IPL Silk·Expert
Restaurant turns into a McDowell's from 'Coming to America' for Halloween
Waymo partners with AutoNation to provide service support for driverless cars
Resellers hope to make fast buck at launch of iPhone X in Singapore
Big-League Bluster
What it's like to use the iPhone X for 10 days
Waymo data shows humans are terrible drivers compared to AI
A timeline of the rogue Trump
Is Finn a Jedi 'The Last Jedi'? Not according to John Boyega
Apple is just $100 billion away from being a trillion
Bargaining For the Common Good
LG V30 review: Great looks, disappointing camera
Noel Gallagher has a scissor player in his band and it's nice
Some delayed iPhone X shipments are arriving quicker than expected
Operation Mensch
Some delayed iPhone X shipments are arriving quicker than expected
'Big Shot' on Disney+ is a sports show afraid of conflictIs Billy attracted to Steve in 'Stranger Things 2'? It'd explain a lotThis 'Harry Potter' sock advent calendar could free 24 house elves this ChristmasSpeedtest rankings put TFacebook's Oversight Board now allows users to appeal to have content removedHow to manage all your browser tabsYoung entrepreneur set a Guinness World Record with the most slime ever createdChrissy Teigen, addicted to Twitter like the rest of us, is tweeting againNetflix announces Seasons 3 and 4 of 'Bridgerton' and we're swooningPhotos: 60 years ago, Yuri Gagarin became the first person in spaceGoogle Shopping's mobile app will die soonThe Microsoft Surface Laptop 4's only major upgrade is under the hoodEven NASA's helicopter on Mars has to wait for software updatesOutdated pregnancy terms need a rebrandTrump drawn as a comic book villain is too damn uncannyClubhouse data for 1.3 million users leaks onlineBang & Olufsen has a bookSiri may have just leaked the date of Apple's next eventHow to have a TrumpBang & Olufsen has a book Tesla considers adding a new ‘stuck detection' feature to Cybertruck. Here’s why. Atlanta Dream vs. Las Vegas Aces 2024 livestream: Watch live WNBA Minnesota Lynx vs. Phoenix Mercury 2024 livestream: Watch live WNBA My private data’s probably out there, but I’m not worried about it Atlanta Dream vs Seattle Storm 2024 livestream: Watch live WNBA Labor Day robot vacuum deals [2024] Djere vs. Djokovic 2024 livestream: Watch US Open for free Minnesota Lynx vs. Dallas Wings 2024 livestream: Watch live WNBA NYT Strands hints, answers for August 28 'Black Myth: Wukong' PS5 review in progress: A potential masterpiece Best free ChatGPT courses NYT mini crossword answers for August 28 Best Amazon deals of the day: Apple iPad mini 6, Sonos Beam Gen 2, Amazon 2 iPhone 16 cameras: 3 new rumored features you need to know about Wordle today: The answer and hints for August 29 Indiana Fever vs. Chicago Sky 2024 livestream: Watch live WNBA Pixel 9 Pro XL hands Shop the best Amazon Labor Day deals Klarna CEO reveals plan to reduce workforce by 50% and replace it with AI Best smart home deal: The Amazon Smart Thermostat is just $63.99
2.0649s , 10130.0234375 kb
Copyright © 2025 Powered by 【Friend’s Mothers 4】,Pursuit Information Network