Twitter Ad Sales Plummet 59% Compared To Last Year

The New York Times reports:

Elon Musk recently said Twitter’s advertising business was on the upswing. “Almost all advertisers have come back,” he asserted, adding that the social media company could soon become profitable.

But Twitter’s U.S. advertising revenue for the five weeks from April 1 to the first week of May was $88 million, down 59 percent from a year earlier, according to an internal presentation obtained by The New York Times.

Twitter’s ad sales staff is concerned that advertisers may be spooked by a rise in hate speech and pornography on the social network, as well as more ads featuring online gambling and marijuana products, the people said.

Read the full article.

NYT: Musk has promoted new tools “so advertisers can keep their ads away from tweets containing specific keywords or posts by certain users. Some advertisers are using the tools to keep their content away from Mr. Musk’s tweets” https://t.co/IZiyw4FwPS

— Brian Stelter (@brianstelter) June 5, 2023

Citing a steady stream of customer service issues, screw-ups, lies, hate-speech and disinformation, large companies continue to pull ad dollars. One fake Disney account got a gold verification check and started posting racial slurs. https://t.co/DbZf8ySDDa

— Ron Filipkowski (@RonFilipkowski) June 5, 2023