#Elon Musk, #Twitter’s owner, confirmed the decline in ad revenue on the social media site on Friday and attributed it to “pressure from activists.” According to Tiffany Hsu, a tech reporter who covers misinformation and disinformation, advertisers are pulling back amid the company’s massive layoffs.
Advertisers worry that Elon Musk’s leadership will enable false information and hate speech to spread widely on the site. The Anti-Defamation League and GLAAD participated in a conference call on Friday asking other businesses to stop using Twitter because of mass layoffs that had decimated what they called an already understaffed content moderation team, according to The New York Times.
The Volkswagen Group advised its automotive brands, which include Audi, Lamborghini, Bentley, and Porsche, to halt their Twitter advertising due to concerns that their advertisements might run alongside objectionable material. This recommendation was made alongside those of a number of other businesses.
A similar recommendation was made to its marketing employees, according to the Danish brewing company Carlsberg Group. REI, a provider of outdoor gear and clothing, announced that it would halt posting in addition to its advertising efforts “given the hazy future of Twitter’s ability to control dangerous information.” Even Musk admitted the decline in advertising, tweeting on Friday morning that Twitter “has experienced a big loss in revenue,” which he attributed to activist groups lobbying advertisers.
As advertisers attempt to reconcile Musk’s pledges to make the network safe for businesses with worries about a rise in extremism and false narratives, including one supported by Musk himself, the first turbulent week of Musk’s ownership of Twitter has given Madison Avenue whiplash, according to Hsu.
The ad-tracking site MediaRadar published information revealing that the number of advertisers on Twitter had decreased from May only a minute before Musk wrote his comment saying “nothing has changed with content filtering and we did everything we could to pacify the activists.”
Visit us on: thespeednews.com