It Looks Like Twitter Is in Even Deeper Trouble Than We Thought – Futurism

X-formerly-Twitter is still bleeding advertisers under Elon Musk’s characteristically unpredictable leadership — and the situation may be even more dire than we’d thought.As Insider reports, marketing consultancy Ebiquity found that the vast majority of the biggest spenders have stopped advertising on X following Musk’s ill-fated takeover last year.That seems to contradict Musk’s and CEO Linda Yaccarino’s recent promises that all is well and that most of the advertisers have since returned.According to the marketing firm’s data, only two of Ebiquity’s clients bought ads on X last month, a massive drop from 31 brands in September 2022. The consultancy works with 70 out of 100 top-spending advertisers, per Insider, including the likes of Google, Walmart, and General Motors.”This is a drop we have not seen before for any major advertising platform,” Ruben Schreurs, Ebiquity’s chief strategy officer, told the publication.The news highlights X’s ongoing financial struggles — advertising has historically been Twitter’s main source of revenue — and the possibility that Musk and Yaccarino may not be being entirely truthful about the site’s dismal situation.During a chaotic conversation at Vox’s Code Conference last month, Yaccarino claimed that 90 percent of the platform’s top 100 advertisers had returned over the “last 12 weeks”
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