SAN FRANCISCO: Elon Musk lost half of Twitter’s top 100 advertisers less than a month after the billionaire took office, research reveals. According to Media Matters in America, his 50 of the top 100 advertisers will have spent about $2 billion on the platform since 2020, and in 2022 alone, he will spend more than $750 million on advertising. I’m here.
Additionally, as of November 21st, in addition to the advertisers who appear to have stopped advertising, seven more advertisers appear to have reduced their advertising on Twitter to almost zero.
Since 2020, these seven advertisers will have spent more than $255 million on Twitter, according to the study, and nearly $118 million in 2022.
The report follows a number of large companies who may be considered “quiet quitters” who are gradually ditching their advertising dollars from social platforms.
This comes after companies such as Chipotle Mexican Grill, Ford and Chevrolet released statements confirming their intention to suspend advertising on Twitter, the study said.
Despite these ad losses, Elon Musk has continued to spread conspiracy theories, unilaterally revive banned accounts like former U.S. President Donald Trump’s, courting and engaging far-right accounts, and haphazard verification. It continues to engage in brand-endangering behavior, such as implementing systems. We allowed extremists and scammers to buy Blue Checks.