During the start of the week, we saw Twitter CTO and billionaire entrepreneur Elon Musk shed light on how the app’s advertising revenue was far from where he’d like it to be.
Musk confirmed how the figure was down by a staggering 50% and most of that is linked to top advertising clients that are known for investing in the app for years.
Today, more ground-shaking stats were made public by MediaRadar which says spending on the app’s main 10 advertising domains was down by nearly 71% and that’s alarming. The latter is linked to spending that arose during the initial half of the year for 2023 when compared to the same ordeal that arose one year back.
Another interesting stat was linked to how the category of Insurance Marketers had suffered the biggest hit as it was down by the greatest amount when compared to others. In second place, it was tech firms that took a huge hit, while those related to digital currencies were doing a poor job altogether as well.
Meanwhile, some specific advertisers including Meta, Crypto.com, Progressive, and top firm Pernod-Ricard also reduced ad spending by a massive 100%. Coca-Cola did the same at 99% while AT&T reduced it by 96%.
If an app such as Twitter was down by 50% during this time, then it’s most likely being supported by a smaller figure of advertisers and it’s definitely the long list of small and large firms that are not as sensitive to the change of Musk’s irrational decision making and erratic policies while taking charge of the firm.
The CEO for MediaRadar also shed light on the research being conducted on Twitter’s stats of advertising taking a massive hit where he adds how top industries are causing a decline in investments on the app.
The huge downfall in advertising spending by so many leading advertisers that handle crucial domains of the firm would carry on to being a major obstacle for the likes of Twitter. Meanwhile, the new CEO in charge of Twitter would also be expected to bring in positive change, considering her strong links, background, and expertise related to the field.
Hence, we might be seeing the entry of dollars soon on the app, thanks to her great name and reputation in the market.
H/T: Mediapost
Read next: Businesses Are Making an Average $33 Million Digital Investment Over Next Year
Musk confirmed how the figure was down by a staggering 50% and most of that is linked to top advertising clients that are known for investing in the app for years.
Today, more ground-shaking stats were made public by MediaRadar which says spending on the app’s main 10 advertising domains was down by nearly 71% and that’s alarming. The latter is linked to spending that arose during the initial half of the year for 2023 when compared to the same ordeal that arose one year back.
Another interesting stat was linked to how the category of Insurance Marketers had suffered the biggest hit as it was down by the greatest amount when compared to others. In second place, it was tech firms that took a huge hit, while those related to digital currencies were doing a poor job altogether as well.
Meanwhile, some specific advertisers including Meta, Crypto.com, Progressive, and top firm Pernod-Ricard also reduced ad spending by a massive 100%. Coca-Cola did the same at 99% while AT&T reduced it by 96%.
If an app such as Twitter was down by 50% during this time, then it’s most likely being supported by a smaller figure of advertisers and it’s definitely the long list of small and large firms that are not as sensitive to the change of Musk’s irrational decision making and erratic policies while taking charge of the firm.
The CEO for MediaRadar also shed light on the research being conducted on Twitter’s stats of advertising taking a massive hit where he adds how top industries are causing a decline in investments on the app.
The huge downfall in advertising spending by so many leading advertisers that handle crucial domains of the firm would carry on to being a major obstacle for the likes of Twitter. Meanwhile, the new CEO in charge of Twitter would also be expected to bring in positive change, considering her strong links, background, and expertise related to the field.
Hence, we might be seeing the entry of dollars soon on the app, thanks to her great name and reputation in the market.
Read next: Businesses Are Making an Average $33 Million Digital Investment Over Next Year
