A war against Musk is escalating.
Since Elon Musk took over Twitter, ad spending on Twitter has dropped by 89%. Over 625 of Twitter’s top 1,000 advertisers stopped putting ads on the platform. Companies such as Coca-Cola, Jeep, Ford, American Express, HBO, Amazon, IBM, and Wells Fargo.
The decline in ad sales was 90% of Twitter’s revenue.
The deep state bureaucracy is at war with him (see our article Twitter on the Hot Seat: Once Again Ideologically Driven Government Comes After Elon Musk… We Warned You… Are we next?).
Big Tech is at war with him.
But one other group is after him…
Here are 3 things you should know…
#1. Dropped Revenue
Although Twitter users have been slowly growing, there has been a huge drop in advertisers.
In 2022, the top 10 advertisers on Twitter spent $71 million on ads. In the past two months, the total was just $7.6 million, a decline of 89%.
Out of the top 10 advertisers on Twitter, only six still advertise on the platform.
#2. Media buying agency bias
Media buying agencies have convinced their clients to stop or significantly reduce their Twitter campaigns. Media buyers purchase TV, radio, print, and web advertising space for advertisers like Coke and Ford. These media buyers have great influence and have been advising their clients not to advertise on Twitter.
Media agencies are telling clients to proceed with caution because Twitter is still in a “chaotic state,” but the reason may be even deeper.
Many of these buyers are also political activists who hate how Musk has revealed the federal government’s collusion with big tech.
#3. Musk Defies the status quo… and they don’t like it—Boycotts?
Advertising insiders say that advertisers are having problems with Musk’s “erratic behavior.” They do not like the fact that Musk has been releasing internal documents, dubbed the “Twitter Files,” to independent journalists.
Ad industry sources say advertisers have “a lack of confidence in Musk’s ability to keep his promises to stop Twitter from turning into a ‘free-for-all hellscape.’”
They are also “offended” by Musk’s tweets about an anti-trans post regarding the Nashville school Christian hate crime.
And they are offended that Musk reinstated “controversial” public figures, like Donald Trump, back on Twitter.
Civil rights group Color of Change is one of several groups pressuring advertisers to drop Twitter because it says the platform is promoting “harmful content.”
Elon Musk is under assault.
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Read another article here: Twitter vs. Elon Musk: Ideological Clash