Elon Musk threatens to “name and shame” advertisers who have paused on Twitter as his takeover of the social media platform sows chaos.
Apparently, the idea is that Musk’s fans would boycott these companies until they agree to funnel advertising money back to Twitter.
General Mills, General Motors, Volkswagen and Pfizer are among the major corporations that have stopped advertising on Twitter since Musk bought it for $44 billion a week ago.
The vast majority of Twitter’s revenue comes from advertising, and the new boss wasn’t happy that the bottom line was drying up.
“Twitter has suffered a massive drop in revenue as activist groups have pressured advertisers, despite the fact that content moderation has not changed and we have done everything we can to placate activists,” Musk tweeted Friday morning.
“Extremely messed up! They are trying to destroy freedom of speech in America.”
Ironically, after Twitter users reported the tweet, a Guardian A story about why advertisers were actually fleeing the site was added as “Context”.
Hate speech on the platform increased following Musk’s purchase, and suspended users immediately began demanding their reinstatement, no doubt making advertisers nervous.
Musk’s complaint about her abandonment prompted Conservative agent Mike Davis to tweet the new owner, “Name and shame the advertisers who are succumbing to ad boycotts. So that we can boycott them.”
To which the SpaceX and Tesla founder replied: “Thank you. A thermonuclear name & disgrace is exactly what will happen if this continues.”
It seems unlikely the billionaire’s vow will calm corporate jitters and bring advertisers back. It comes amid a week of utter turmoil as Musk is firing top executives and board members, launching massive layoffs, and announcing a plan to charge verified users $8 a month to keep their blue ticks.
“Unfortunately, in terms of reducing the power of Twitter, when the company is losing over $4 million a day, there is no other choice. Everyone who left was offered 3 months severance pay, which is 50% more than the law requires,” he tweeted.
https://www.thedailybeast.com/elon-musk-tries-to-win-advertisers-back-by-threatening-them?source=articles&via=rss Elon Musk is trying to win back advertisers by threatening them