New data from market research firm Standard Media Index (SMI) shows that ad spend on Twitter Inc fell by 71% in December 2022, as top advertisers cut spending. spend their money on Twitter after the billionaire Elon Musk take over this social media platform.
The above data of SMI is released between Twitter is trying to stem the “migration wave” of advertisers. The company has launched a series of initiatives to win back advertisers by offering some free ads, lifting a ban on political ads, and giving companies greater control over ad positioning. their report.
According to SMI data, ad spend on Twitter in November 2022 was down 55% year-on-year, although these months have traditionally been the time of year. ad spend higher as brands race to promote their products during the holiday season.
[Người dùng Twitter sẽ phải trả phí cao hơn để tắt quảng cáo]
Another research firm, Pathmatics, found that most companies stopped spending on Twitter ads in November 2022, at the same time Musk reinstated suspended accounts and introduced a policy of charging fees. when verifying the account, leading to the guys cheat impersonating large corporations.
According to Pathmatics’ estimates, 14 of the top 30 advertisers on Twitter stopped all on the platform after Musk took the helm on October 27, 2022.
During a November 2022 event on Twitter Spaces, Musk addressed the issue of businesses suspending altogether and said he understood if advertisers were to take a break from Twitter.
Ad sales make up about 90% of Twitter’s revenue. Twitter’s fourth-quarter revenue fell about 35% year-over-year due to a drop in activity.
Minh Trang (VNA/Vietnam+)