According to reports, Twitter executives under Elon Musk are becoming more desperate to attract advertising dollars. Bill Pugliano/Getty Images
According to The Information, Twitter executives told advertisers that they need to be comfortable with Elon Musk’s unpredictable behavior. Some advertisers have been dissatisfied by this, according to The Information. According to some, this has led to advertisers being dissatisfied with the largest ad-buying firm.
According to reports, Twitter 2.0 under Elon Musk continues to alienate advertising executives as it struggles for much-needed ad money.
According to The Information, GroupM is the largest ad-buying firm in the world and has reduced spending on social media platforms by between 40% and 50%.
According to reports, Twitter executives are becoming more desperate to generate additional revenue as a result of a decrease in ad spending. According to the report, some have implied that they would lose their jobs if buyers did not spend more on Twitter.
According to The Information, the downturn in spending is due to Twitter executives telling advertisers – who are known for preferring uncontroversial content around their ad campaigns- that they need start getting used to CEO Elon Musk’s unpredictable nature.
This report comes amid efforts by Twitter to generate new revenue streams ever since Elon Musk became CEO. Twitter began charging $8 per month for its Twitter Blue verification process late last year. On Wednesday, The New York Times reported that Twitter executives were considering an online auction to sell handles from defunct accounts in order to raise additional funds.
Twitter is now paying interest on its $44 billion loan from Musk to purchase the company.
Before Elon Musk took control in October last year, Twitter’s largest source of revenue was advertising. Interpublic Group and IPG, two major advertisers, advised their clients to stop using Twitter ads after Musk’s takeover.
Business Insider has the original article.
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By: sdelouya@insider.com (Samantha Delouya)
Title: Twitter executives told advertisers to get used to Elon Musk’s unpredictability as the company continues hemorrhaging ad dollars, report says
Sourced From: www.businessinsider.com/twitter-advertisers-get-used-to-elon-musk-unpredictability-report-2023-1
Published Date: Wed, 11 Jan 2023 23:36:25 +0000
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