FT: Major advertisers cut Twitter ad spending due to Musk’s policies
[ad_1]
Major brands and advertising agencies have suspended advertising on Twitter amid the policy of businessman Elon Musk to lead the social network, the newspaper reported. The Financial Times (FT) citing sources. According to them, due to massive layoffs on Twitter, many brands have encountered difficulties in conducting advertising campaigns.
According to the FT, ad agencies have lost their representatives in the Twitter ad department and can no longer receive feedback on ad campaigns. Some of them also encountered technical problems while running advertising campaigns.
According to the FT, Elon Musk tried to personally contact the management of large brands that have reduced advertising costs on the site, “to tell them off”, which is why a number of companies decided to reduce advertising investments to a minimum. Mr. Musk also held a series of meetings and calls with representatives of leading brands and advertising agencies, in which he tried to calm them down.
Elon Musk closed the deal to buy Twitter for $44 billion at the end of October. After his arrival, the company laid off half of the employees, while Mr. Musk promised expand staff in the future. Before the arrival of Elon Musk, Twitter’s advertising revenue was about $5 billion a year.
About the situation in the social network – in the material “Kommersant FM” “Elon Musk softened up a bit”.
[ad_2]
Source link
