Major global brands have reduced or even abandoned advertising on Twitter because of Musk

The Financial Times writes that almost all major global brands have reduced or temporarily abandoned

from advertising on Twitter after Elon Musk took over the company.

What does it mean

The reason was the chaotic approach of the billionaire tomanagement. Mass layoffs, including advertisers, were also an important factor. Companies complain that now the agencies have no contact with the social network and they almost do not receive messages from it. At the same time, many note that Twitter's advertising systems began to work poorly.

According to the FT, Musk even tried to put pressure on some advertisers, but as a result, others decided to cut their costs to a minimum.

Media Matters writes that a total of 50 ofThe top 100 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.