Since Elon Musk successfully acquired Twitter at the end of October and became the CEO, many large companies have stopped their original plans to advertise products or services on Twitter. A few days ago, it was reported that after Tim Cook invited Elon Musk to visit the Apple headquarters, Apple decided to re-advertise on Twitter. The latest news indicates that Amazon has similar plans.
Zoë Schiffer, a reporter from Platformer, a Silicon Valley news website, recently revealed that someone familiar with the matter broke the news to him that Amazon plans to launch advertising on Twitter again, and the advertising fee involved is about 100 million US dollars a year. An organization specializing in the study of media ecology stated at the end of November that nearly half of Twitter’s top 100 advertisers have suspended advertising after Elon Musk took over. These businesses have spent $750 million on Twitter advertising this year alone and have accounted for about $2 billion in Twitter’s ad revenue since 2020.
According to Twitter internal news, advertising revenue in the week of November 20 was 80% lower than expected. Although Apple and Amazon plan to re-launch advertising, many companies still hold a wait-and-see attitude. Some brands are only willing to place advertisements during the American football Super Bowl, and also include protection clauses in the contracts that can change their minds at any time.
Source of information and pictures:business insider
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