Twitter witnesses advertiser exodus, Musk pins blame on 'activism'
From May to September of 2022, the number of advertisers on Twitter went from 3,900 to 668, according to a news report
A slew of brands has reportedly opted out of advertising on Twitter, fearing bad optics in case their ads appear alongside hate speech or misinformation. The takeover by Elon Musk has further dealt a blow to the platform's ad revenue, which has been petering off in recent years due to inflation.
Musk, on his part, has pinned the blame on "activist groups pressuring advertisers" despite nothing changing on the content moderation front.
General Mills and Volkswagen Group, which owns Audi, Lamborghini, Bentley and Porsche, have reportedly joined other companies in pausing their ad spends on the platform.
Danish brewing company Carlsberg Group and outdoor equipment and apparel retailer REI said that they would also decide against spending on Twitter, given the uncertainty around the platform's content moderation.
From May to September of 2022, the number of advertisers on Twitter went from 3,900 to 668, according to a news report.
Civil rights and activist groups like GLAAD and Anti-Defamation League have also pushed for a global advertising boycott of Twitter.
