Twitter under Elon Musk is certainly an unpredictable ordeal.
You never know what the billionaire might say or do and that’s why the company’s top executives are giving advertisers a reality check.
The new Twitter keeps on alienating its own executives as it tries to hold onto some much-required ad dollars.
Now, a leading new report from The Information says the world’s biggest ad-purchasing firm called Group M has opted to dramatically reduce its spending on the Twitter platform. And by that, we mean a staggering 40% to 50%.
More and more Twitter executives are turning super desperate to bring on more revenue as ad spending from the past undergoes a not-so-pleasant dry spell. Some ended up implying to ad buyers how their jobs are currently on the line until a buyer spends more money on the app as per the report.
The major downturn in terms of ad spending arises as the company’s executives tell advertisers that they wish to begin getting more comfortable with Musk’s unpredictability. The report added that such advertisers didn’t love the news because let’s face the reality, they’re not fans of controversial content that’s aligned with their advertising campaigns.
This particular report comes as more and more attempts are made from the platform to gather up new revenue avenues ever since Musk took charge as the platform’s CEO. Just toward the end of 2022, we saw Elon Musk charging $8 a month for the Twitter Blue verification process. Then on Wednesday, as reported by The New York Times, the app’s executives began considering online auctions for a few of its handles that arise from dysfunctional profiles so that it could raise more money.
As it is, the future of Twitter isn’t appearing to be too bright, thanks to the large number of interest payments that must be made after Elon Musk opted to make payments from banks to purchase the firm for a staggering $44 billion.
Advertising turned out to be the most important revenue source for the app, right before the billionaire took charge of the company in October 2022. After his reported takeover, some major advertisers such as the Interpublic Group and the IPG gave advice to their clients to put a temporary halt to ads on the platform.
We’re not sure what the reactions must have been to such news but it must not have been music to anyone’s years. What do you think?
Read next: Twitter May Soon Hold Auction To Free Up Unused Twitter Handles For Revenue Generation
You never know what the billionaire might say or do and that’s why the company’s top executives are giving advertisers a reality check.
The new Twitter keeps on alienating its own executives as it tries to hold onto some much-required ad dollars.
Now, a leading new report from The Information says the world’s biggest ad-purchasing firm called Group M has opted to dramatically reduce its spending on the Twitter platform. And by that, we mean a staggering 40% to 50%.
More and more Twitter executives are turning super desperate to bring on more revenue as ad spending from the past undergoes a not-so-pleasant dry spell. Some ended up implying to ad buyers how their jobs are currently on the line until a buyer spends more money on the app as per the report.
The major downturn in terms of ad spending arises as the company’s executives tell advertisers that they wish to begin getting more comfortable with Musk’s unpredictability. The report added that such advertisers didn’t love the news because let’s face the reality, they’re not fans of controversial content that’s aligned with their advertising campaigns.
This particular report comes as more and more attempts are made from the platform to gather up new revenue avenues ever since Musk took charge as the platform’s CEO. Just toward the end of 2022, we saw Elon Musk charging $8 a month for the Twitter Blue verification process. Then on Wednesday, as reported by The New York Times, the app’s executives began considering online auctions for a few of its handles that arise from dysfunctional profiles so that it could raise more money.
As it is, the future of Twitter isn’t appearing to be too bright, thanks to the large number of interest payments that must be made after Elon Musk opted to make payments from banks to purchase the firm for a staggering $44 billion.
Advertising turned out to be the most important revenue source for the app, right before the billionaire took charge of the company in October 2022. After his reported takeover, some major advertisers such as the Interpublic Group and the IPG gave advice to their clients to put a temporary halt to ads on the platform.
We’re not sure what the reactions must have been to such news but it must not have been music to anyone’s years. What do you think?
Read next: Twitter May Soon Hold Auction To Free Up Unused Twitter Handles For Revenue Generation
