Hard times for Twitter! Advertisers continue to flee

As there are serious layoffs on the twitter platform, advertisers continue to flee the platform at full speed. The company may have a tougher time for a while as civil rights defenders demand a boycott. Elon Musk is facing a much more pressing issue as he searches for new ways to profit from Twitter: The platform is attracting fewer advertisers.

Musk stated on Friday that advertisers' concerns regarding content moderation and other issues brought up by activists had led to a "massive drop in revenue" for Twitter. In recent days, a number of major companies, including GM, Audi, Pfizer, General Mills, Volkswagen, and others who are concerned about possible changes to Twitter's policies and the departure of top executives, have stopped advertising.

It is immoral, dangerous, and highly destructive to our democracy for any advertiser to fund a platform that fuels hate speech, election denialism and conspiracy theories. Until actions are taken to make this a safe space, we call on companies to pause all advertising on Twitter.

— Derrick Johnson (@DerrickNAACP) November 4, 2022

The New York Times reported this week that “IPG, one of the world’s largest advertising companies, issued a recommendation... for clients to temporarily pause their spending on Twitter.” Additionally, industry groups have expressed concern regarding Musk's brand safety.

Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists.

Extremely messed up! They’re trying to destroy free speech in America.

— Elon Musk (@elonmusk) November 4, 2022