Advertisers Pull Back From Twitter Amid Fears Of Policy Change
The financial problems of Twitter have further intensified after a change of ownership in which Elon Musk has emerged as the new owner. The reason behind the advertisers' pullback is that Twitter will change its policy about hate speed and misinformation under Elon Musk.
Some of the major advertisers who have pulled back are the Volkswagen Group, Bentley, Porsche, Lamborghini, and Audi... Basically, all the advertisers mentioned above are big car brands which highlights the intensification of this issue. Furthermore, a German brand has also stated that its marketing teams will pull back from Twitter advertising.
REI, which is involved in the selling of apparel and outdoor equipment, also joined the growing list of companies that are stopping their ad spending on Twitter. Once again, the issue is about the uncertainty regarding how Twitter will handle harmful content. One of the major issues is brand safety, as the big brands do not want to associate with harmful or hateful content.
Mass Layoffs Is Also Causing Problems
Although the fears of a changed policy are more prominent, the recent layoffs happening at Twitter are also becoming a cause of problems... Recently, GLAAD (civil rights group) held a conference in which they urged more big companies to leave Twitter.
They believe that after the recent layoffs, the capacity of the moderation staff at Twitter will get even lower. This will lead to more unwanted content on the Twitter platform.
Recently, even Elon Musk has acknowledged that Twitter is facing a drop in revenue due to the advertising slump. Considering how Twitter was already bleeding money, this pullback from advertisers will further intensify the issue.
Furthermore, Elon Musk has been reassuring the advertisers that content moderation policies at Twitter will not change. He also stated that the company had done a lot to meet the demands of the civil rights group.