Twitter has the Dreaded Ad Problem and Elon Will Aggravate It!
Elon Musk is having a hard time solving the ad problem for Twitter!
SpaceX has bought an advertising package on Twitter for its satellite internet service Starlink, said Elon Musk, who owns both the rocket company and the social media platform, in a tweet on Monday. “SpaceX Starlink bought a tiny – not large – ad package to test the effectiveness of Twitter advertising in Australia & Spain. Did the same for FB/Insta/Google,” Musk tweeted.
The move comes at a time when Twitter, which generated more than 90% of its second-quarter revenue from ad sales, is seeing an exodus of advertisers on fears that Musk would bring changes to the company’s content moderation rules. Since he bought the company last month, several companies including General Motors Co, General Mills, Mondelez International and Volkswagen AG have paused advertising on the platform. Meanwhile, Tesla shares fell about 2% in premarket trading after Musk said, “I have too much work on my plate that is for sure”, when asked about his leadership at the EV maker and Twitter.
Twitter, which generated more than 90% of its second-quarter revenue from ad sales, has seen advertisers flee on fears that Musk would change the company’s content moderation rules. Companies including General Motors Co (GM.N), General Mills (GIS.N), Mondelez International (MDLZ.O) and Volkswagen AG (VOWG_p.DE) paused advertising on the platform after Musk acquired it last month. “At the moment, most clients are suspending their activities (on Twitter) because they’re worried about extreme content and content moderation on the site,” S4 Capital’s Martin Sorrell said. The chief executive of Tesla Inc (TSLA.O) and SpaceX had last week told advertisers that he aimed to turn the social media platform to pursue truth and put an end to fake accounts.
Meanwhile, Tesla shares fell 4% after Musk said he had “too much work” on his plate, with investors worrying he is too preoccupied with the social media platform when the world’s most valuable automaker is facing production hurdles and rising competition.
The social media platform paused its recently announced $8 blue check subscription service on Friday as fake accounts mushroomed, and new owner Elon Musk brought back the “official” badge to some users of the social media platform. Fake accounts purporting to be big brands have popped up with the blue check since the new roll-out, including Musk’s Tesla and SpaceX, as well as Roblox, Nestle and Lockheed Martin. Musk in a tweet on Saturday said that Twitter Blue will probably “come back at the end of next week”.
The post Twitter has the Dreaded Ad Problem and Elon Will Aggravate It! appeared first on Analytics Insight.
Elon Musk is having a hard time solving the ad problem for Twitter!
SpaceX has bought an advertising package on Twitter for its satellite internet service Starlink, said Elon Musk, who owns both the rocket company and the social media platform, in a tweet on Monday. “SpaceX Starlink bought a tiny – not large – ad package to test the effectiveness of Twitter advertising in Australia & Spain. Did the same for FB/Insta/Google,” Musk tweeted.
The move comes at a time when Twitter, which generated more than 90% of its second-quarter revenue from ad sales, is seeing an exodus of advertisers on fears that Musk would bring changes to the company’s content moderation rules. Since he bought the company last month, several companies including General Motors Co, General Mills, Mondelez International and Volkswagen AG have paused advertising on the platform. Meanwhile, Tesla shares fell about 2% in premarket trading after Musk said, “I have too much work on my plate that is for sure”, when asked about his leadership at the EV maker and Twitter.
Twitter, which generated more than 90% of its second-quarter revenue from ad sales, has seen advertisers flee on fears that Musk would change the company’s content moderation rules. Companies including General Motors Co (GM.N), General Mills (GIS.N), Mondelez International (MDLZ.O) and Volkswagen AG (VOWG_p.DE) paused advertising on the platform after Musk acquired it last month. “At the moment, most clients are suspending their activities (on Twitter) because they’re worried about extreme content and content moderation on the site,” S4 Capital’s Martin Sorrell said. The chief executive of Tesla Inc (TSLA.O) and SpaceX had last week told advertisers that he aimed to turn the social media platform to pursue truth and put an end to fake accounts.
Meanwhile, Tesla shares fell 4% after Musk said he had “too much work” on his plate, with investors worrying he is too preoccupied with the social media platform when the world’s most valuable automaker is facing production hurdles and rising competition.
The social media platform paused its recently announced $8 blue check subscription service on Friday as fake accounts mushroomed, and new owner Elon Musk brought back the “official” badge to some users of the social media platform. Fake accounts purporting to be big brands have popped up with the blue check since the new roll-out, including Musk’s Tesla and SpaceX, as well as Roblox, Nestle and Lockheed Martin. Musk in a tweet on Saturday said that Twitter Blue will probably “come back at the end of next week”.
The post Twitter has the Dreaded Ad Problem and Elon Will Aggravate It! appeared first on Analytics Insight.
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