Report says half of Twitter’s top advertisers are expected to leave within one month after Musk’s takeover.

The few weeks since Elon Musk took the reins of Twitter have been filled with chaos – including a launch, takedown relaunch Premium services and the Refrain from banning controversial figures. A new report this week shows the financial impact of the social media giant’s management changes.

Media Matters for America, an American non-profit watchdog, published a Tuesday report concluding Twitter has lost half its top advertisers since Elon Musk purchased the platform at October’s end. 

The report states that 50 of the top 100 advertisers on the platform, who have spent approximately $2 billion since 2020, “have either declared or appeared to have stopped advertising in the recent weeks.” The report, which used data as of November 21, stated that these companies had earned more than $750 million in advertising in 2022.

According to the report, Chevrolet, Chipotle Mexican Grill and Ford are just a few of the companies that have made statements or been reported publicly as having stopped advertising on Twitter. Media Matters called these “quiet quitters” and they have apparently stopped advertising on Twitter since then. Musk’s takeoverThe report was created using Pathmatics data. Those companies include AMC Networks, AT&T, BlackRock, Chanel and Kellogg, among others. 

However, not all companies included in the report have explicitly stated that Musk has slowed or stopped their advertisement. For example, a Kellogg spokesperson stated that the company had stopped its advertisements earlier this month as it continued to “monitor this new direction” and evaluate its marketing spend. 

The report said that seven more companies are slowing down their Twitter advertising “to almost nothing”. These companies have spent more than $255 million on Twitter in 2020, and $118 million in January 1. 

The Washington Post published Tuesday’s analysis and found that over a third of top Twitter advertisers have not promoted on the platform for the past two weeks. According to The Post, Jeep and Mars candy have not placed any ads on Twitter since November 7, 2017. 

Mars said in a statement to The Post that Mars had suspended advertising on Twitter late September because of serious brand safety and suitability issues that had affected their brands.  

Many advertisers expressed concern about the site’s new strategies for moderating and how they might be implemented. Their brand image could be affected. 

The director of a medium-sized company-to-business wrote earlier this week on the communication site Blind, that they had stopped spending $750,000 per month in Twitter ads in recent weeks. Although the company is not listed among the top advertisers on the platform, the director shared a widely shared post saying that Twitter usually makes up between 8 and 10% of their advertising mix. 

The director stated that the ad campaign’s performance had “fell significantly” in the two weeks following Musk’s takeover of Twitter. Engagement was on the decline. The director also stated that brand safety concerns were being seen as “hardcore Antisemitism” and “adult spam” which remained up for days, even though they were flagged.

These issues were not Musk’s fault. They acknowledged that some problems could have been caused “by a shift in users on the platform,” but they said that no matter what, these problems “cost us real cash.”

Musk is a Musk. complained Loss of advertising on the website 

A Twitter user pointed out Tuesday’s October 28 tweet by Musk, in which he promised to establish a content moderation committee to talk about reinstating banned accounts.[S]The person said that Musk had allegedly surpassed the limit of tweets “completely fictional”, implying that Musk has not kept his promise to reinstate suspended users. 

Musk blamed activists for Musk’s response. Musk responded by blaming activists.

He stated, “They broke it.” 

Twitter published the following day Media Matters’ report. launch New “performance advertising solutions” that deliver results and relevance. It is expected to increase investment returns for companies, while also providing more “relevant ads” for consumers. said.