Elon Musk hit as firms pull Twitter ads
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Elon Musk hit as companies pull Twitter ads: Billionaire blames ‘activist groups who pressure advertisers’ for new wave of brands leaving platform
Elon Musk’s tenure as owner of Twitter went from bad to worse when he disapproved of a “huge drop” in ad sales.
The billionaire blamed “activist groups that pressure advertisers” for another wave of brands leaving the platform.
Care: Companies fear the microblogging site could descend into a ‘free-for-all-hellscape’ under Elon Musk’s rule
Musk, boss of electric car maker Tesla, said “nothing has changed” in the way Twitter moderates its content and that he has done everything he can “to appease the activists.”
But the platform, which he bought last month for £38bn after a legal battle, was hit by another exodus of advertisers yesterday.
Companies fear the microblogging site could descend into a “free-for-all-hellscape” under Musk’s rule.
But a drop in ad revenue could pose problems for the 57-year-old, as advertisers make up 90 percent of his annual revenue.
US food giant General Mills and the Volkswagen Group both said they were pausing advertising on the platform. Cadbury owner Mondelez and Pfizer have also withdrawn ads. They followed the Danish brewing giant Carlsberg.
Musk said, ‘Extremely confused! They are trying to destroy free speech in America.”