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Half of Twitter’s top 100 advertisers appear to no longer advertise on the site. A report from Communication problems for America claims that these 50 advertisers have spent nearly $2 billion on Twitter ads since 2020 and over $750 million in 2022 alone.
Seven other advertisers slowed their ads to almost nothing, according to the report published on Tuesday. These companies have paid Twitter more than $255 million since 2020.
Chevrolet, Chipotle Mexican Grill, Inc., Ford, Jeep, Kyndryl, Merck & Co. and Novartis AG have both made statements about suspending advertising on Twitter or have been reported and confirmed to have done so. Others have stopped advertising on the platform for a “significant amount of time following direct outreach, controversy, and warnings from media buyers.”
The report writes that even with these blows to ad revenue, Twitter CEO Elon Musk “continues to act unsafely for his brand – including amplifying conspiracy theories.” , unilaterally restoring banned accounts such as that of former President Donald Trump, flirting and socializing with strangers”. the right account and set up a random verification scheme that allows extremists and scammers to buy blue checks.”
Eli Lilly and Co. stopped showing ads on Twitter a day after an account impersonating a pharmaceutical company — complete with a purchased blue check mark — posted, “We’re excited to announce insulin is now free.”
Eli Lilly asked Twitter to take it down, but the tweet persisted for hours as the platform’s staff was so thin due to recent layoffs and resignations. The tweet garnered hundreds of retweets and thousands of likes, and Eli Lilly’s share soon take a dive.
Endpoint News reported that 12 pharmaceutical giants soon stopped buying ads on Twitter, citing Pathmatics, which collects data on the company’s advertising and digital marketing trends.
King Fleer on Twitter, “Coming soon the only advertiser left on Twitter will be My Pillow.” The pillow company is run by pro-Trump conspiracy theorist Mike Lindell.
Twitter did not immediately respond to NPR’s request for comment.