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| Advertisers are getting off Twitter |
- Many developments have occurred in the Twitter platform since it was acquired by billionaire Elon Musk, and in the latest of these developments, a study prepared by the American Media Matters Corporation revealed that Twitter “lost half of the top 100 advertisers on the platform in less than a month, after Musk assumed his position as CEO.”
- According to the research, 50 of the top 100 marketers have spent about two billion dollars on the platform since 2020, of which 750 million dollars on advertising this year alone.
- According to Western media reports, as of November 21, 7 additional advertisers have joined a growing list of companies that have reduced their Twitter advertising to almost nothing, while Twitter has an annual advertising value of $5 billion.
- On the other hand, Elon Musk wrote in a tweet that the number of people who registered themselves as new users on the social networking platform reached an all-time high, with an average of more than two million people per day, as of November 16. An increase of 66 percent compared to the same week last year.
- Elon Musk added that the number of minutes active users spent on the platform was also at a record level, averaging about eight billion minutes per day, over the seven days ending November 15, an increase of 30 percent compared to the same week last year.
- Musk later noted in a separate tweet that hate speech on the site dropped by a third during the month of November, thanking the Twitter team for the achievement.
- To sum up, the company's obscurity still reigns supreme, but the details of its future are becoming clearer by the day.
- Fouad Badaro, an expert in e-marketing, said in an interview on the subject with Sky News Arabia:
- Elon Musk wants to ease up on the recent measures he's taken, so he can control advertisers' migration from the app.
- I don't think Musk is going to sacrifice revenue and try to keep the advertisers who are currently on Twitter.
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