Twitter's Advertising Exodus Accelerates, Despite Outreach From Elon Musk

[brooklynite]

Wall Street Journal

The advertiser exodus from Elon Musk’s Twitter Inc. is accelerating, and it could be hard for the billionaire to bring them back soon.

The lengthening list of advertisers pausing their spending on the social-media platform two weeks after Mr. Musk’s $44 billion takeover is adding to the financial pressure on the company. Mr. Musk spent the past week trying to assuage advertisers’ concerns, but many of them are defecting anyway.

Twitter has entered the period of the year when it normally begins negotiating long-term contracts with its largest advertisers, deals that generate more than 30% of its U.S. ad revenue, according to people familiar with the company’s finances.

Many of those discussions haven’t taken place or have paused because of uncertainty surrounding the company and the disarray in its ad sales department following the departure of several top executives since the takeover, advertisers and ad buyers said.

[RockRaven]

1. Given that Musk, personally, is a large part of the problem, why would anyone expect that

outreach from him would do any good? You're just rubbing the source of their concern in their face while insisting there's no problem.

[Voltaire2]

2. his outreach included threatening them.

Dude has totally lost it. The Eli Lily disaster is just sinking in. The fact that the security and compliance engineering leadership team quit in protest last week is not going to help settle corporate distrust with what Musk is doing either.

There is also a user exodus going on. Even if Musk can manage to get the big advertisers back, they are going to demand and get steep reductions in price.

My guess is twitter ends up in bankruptcy before the end of the year. One of the most spectacular own goals in recent capitalist history.

[republianmushroom]

3. LIKE IT

[LetMyPeopleVote]

4. Who is surprised by this?

Musk is an idiot and advertisers do not trust him