The Financial Times writes that almost all major global brands have reduced or temporarily abandoned
What does it mean
The reason was the billionaire's chaotic approachto management. Mass layoffs, including advertisers, were also an important factor. Companies complain that now agencies have no contacts left with the social network and they receive almost no messages from it. At the same time, many note that Twitter’s advertising systems have begun to work poorly.
According to FT, Musk even tried to put pressure on some advertisers, but as a result, others decided to cut their expenses to a minimum.
Media Matters writes that a total of 50of the 100 largest advertisers have suspended or announced their intention to suspend spending since Musk took over the social network. These 50 companies accounted for $317 million of Twitter's $5 billion in 2021 revenue.