Most of the world's biggest advertisers have stopped buying ads on Elon Musk's X, exclusive new data shows

Comments

• philodendron@lemdro.id ⁨1⁩ ⁨year⁩ ago

  Finally some uplifting Elon news in this sub

  source

  • yoz@aussie.zone ⁨1⁩ ⁨year⁩ ago

    Not uplifting enough. He still got Tesla , space x and tons of other companies he has invested in.

    source

    • Fades@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Tesla is under investigation for lying about range numbers, Twitter sees most advertisers leave and gets hit with disinfo/bigotry lawsuits and also mistreatment of employees, there are rumors of the gov taking a deeper look at spacex’s starlink situation

      Nothing of Elon’s is in a great place right now. Tesla has been losing market share after blowing their insane lead in the EV game, Twitter a sinking ship, space x is the only thing that is remotely stable and forward facing but even with that Elon’s pandering to Putin has put that at risk.

      source

      • -> View More Comments
• cheese_greater@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Does anyone else consider it plausible that flushing $44 billion is worth the cost if it removes that meddlesome social media platform that activists rely on to syndicate human rights abuses and document all the other terrible stuff that happens around the world?

  There’s something way sketch about this entire narrative

  source

  • silverbax@lemmy.world ⁨1⁩ ⁨year⁩ ago

    Or, Elon Musk is just an idiot doing the same idiot things he’s always done.

    source

    • Sarcastik@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Bingo.

      That dick bag tried to rinse and repeat the same BS management strategy he used at a car company on a tech company and wouldn’t you know, it’s cratering right before or eyes.

      Shocking.

      source

      • -> View More Comments
    • OrangeJoe@lemm.ee ⁨1⁩ ⁨year⁩ ago

      This absolutely feels like a Hanlon’s razor type situation especially given what we have learned about Elon musk over the last 5 or so years. The whole evil genius shtick just doesn’t fly anymore. He’s an idiot who just happens to have made enough good or lucky business decisions in the past to get him where he is now.

      source
  • UnspecificGravity@discuss.tchncs.de ⁨1⁩ ⁨year⁩ ago

    It’s impossible to say what anything is worth to a person who can lose 44 billion dollars and still have so much money left that the next 10 generations of their lineage won’t ever have to work again.

    It’s insane to think of that as a trivial amount of money, but musk could literally lose 99% of his money and it wouldn’t impact his life at all, except for his hobby of bankrupting corporations.

    source

    • stifle867@programming.dev ⁨1⁩ ⁨year⁩ ago

      As obscenely wealthy as he is, that wealth comes from bis assets not cash in hand. $20B of the $44B paid was cash, some of which was from selling some of his Tesla shares. Further to that, Tesla stock dropped so significantly it caused his net worth to drop by a further $30B.

      source

      • -> View More Comments
  • RagingRobot@lemmy.world ⁨1⁩ ⁨year⁩ ago

    I don’t think so because another platform will pop up eventually. It’s too much money for a short term thing

    source

    • Serinus@lemmy.world ⁨1⁩ ⁨year⁩ ago

      It’s probably a combination. He considered buying it for reasons including the above. He didn’t intend to pay $44 billion or actually buy the company. He didn’t intend to ruin it.

      source
    • cheese_greater@lemmy.world ⁨1⁩ ⁨year⁩ ago

      That sounds like a “tomorrow” problem for short-term thinking autocratic assholes

      source
    • Lightor@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Eventually could be a while, and during that time they don’t have to worry. Also, without it fully tanking and limping along, many will stay and have stayed. This removes the need for an immediate replacement and hurts the possible success of one as celebrities, companies, artists, etc can and do just stay on Twitter.

      source
  • Zetta@mander.xyz ⁨1⁩ ⁨year⁩ ago

    I don’t consider that plausible. I think must didn’t really want to buy Twitter but fucked up and was forced to.

    source

    • systemglitch@lemmy.world ⁨1⁩ ⁨year⁩ ago

      I think sabotage was his intent all along

      source

      • -> View More Comments
  • driving_crooner@lemmy.eco.br ⁨1⁩ ⁨year⁩ ago

    Did he actually paid 44B for his own money? How much of the money came from saudi investors and twitter leverage debt?

    source

    • abhibeckert@lemmy.world ⁨1⁩ ⁨year⁩ ago

      I don’t think the exact amount is known, but he got money from a lot of sources… wouldn’t surprise me at all of the Saudi’s only invested a few hundred million. They definitely didn’t invest tens of billions.

      source
    • cheese_greater@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Ya I want some clarification on what he actually fucking paid and what came out of what accounts or if this is all on-paper foreshit

      source
  • arc@lemm.ee ⁨1⁩ ⁨year⁩ ago

    There are other social media platforms so I don’t really see it. I just think Musk is a narcissist, egotist and utter hypocrite whose big mouth and lack of due diligence compelled him to buy the platform. And it turns out he’s really terrible at running a social media platform.

    source

    • cheese_greater@lemmy.world ⁨1⁩ ⁨year⁩ ago

      For a lot of activists and oppressive governments, though, its all about like the short-term. If you get killed because of Twitters current bullshit or you can’t be as affective by using it as a digital-bullhorn to maybe effect change in a more peaceful way, its not as relevant to you personally and your persecutor de jour if Mastodon blows up and becomes the actual Next-Twitter

      source
  • Veneroso@lemmy.world ⁨1⁩ ⁨year⁩ ago

    Maybe?

    m.youtube.com/watch?v=dgznMPA9iYY&pp=ygUYbWFq…

    source
• Buffalox@lemmy.world ⁨1⁩ ⁨year⁩ ago

  just two of its clients had purchased ads on X last month. That was down from 31 brands in September last year,

  This is a drop we have not seen before for any major advertising platform,

  Come on Elon, you got this. 😜

  Ebiquity said its analysis appears to contradict statements made by X CEO Linda Yaccarino

  Yes that’s what I thought, a bit of reality distortion and gas lighting the public will surely solve this. 😋
  Remarkable how much Elons tactics reminds me of Trump.

  source

  • lolcatnip@reddthat.com ⁨1⁩ ⁨year⁩ ago

    Remarkable how much Elons tactics for the past few years remind me of Trump.

    He’s just the Gen X version of Trump.

    source
  • Sarcastik@lemmy.world ⁨1⁩ ⁨year⁩ ago

    Ebiquity said its analysis appears to contradict statements made by X CEO Linda Yaccarino

    Yes that’s what I thought, a bit of reality distortion and gas lighting the public will surely solve this. 😋
    Remarkable how much Elons tactics for the past few years remind me of Trump.

    I think it’s called lying

    source
• resin85@lemmy.ca ⁨1⁩ ⁨year⁩ ago

  Visa, for example, spent $10 in the 12 weeks to October 6, compared to $77,500 during the same period last year, according to Sensor Tower’s data.

  I’m no business genius like musk, but I’m gonna take a guess that wouldn’t even pay the bills for the ridiculous X sign he put on the roof and then had to take down.

  source

  • crystalmerchant@lemmy.world ⁨1⁩ ⁨year⁩ ago

    Why pay the $10? If you’re going to drop from 77k to 10 you might as well drop to zero, right? There must be some nuance or legalese around this that I don’t understand

    source

    • trigonated@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Isn’t $10 the monthly subscription fee or whatever it’s called? Maybe they just want to keep that checkmark besides their name.

      source

      • -> View More Comments
    • neptune@dmv.social ⁨1⁩ ⁨year⁩ ago

      It’s probably baked into their contract that there is a fee or other penalty for canceling. Or maybe an AI just decided $10 was slightly more optimal than 0. Or perhaps the contract period ended minutes after the billing period.

      source

      • -> View More Comments
  • blady_blah@lemmy.world ⁨1⁩ ⁨year⁩ ago

    That seems like really low numbers. Ex-Twitter is (in theory) a multi-billion dollar company and Visa should be a “whale” of a client… $77.5k is nothing for advertising revenue. A drop in the expense budget. That’s not even one software engineer. How does the company stay afloat if numbers look like that?

    source
• dutchkimble@lemy.lol ⁨1⁩ ⁨year⁩ ago

  Just hypothetically, jokes and feelings asids for discussion sake, if we assume Elon had a plan after taking over (whether he did it by mistake or whatever) what do you think it could be?

  source

  • TropicalDingdong@lemmy.world ⁨1⁩ ⁨year⁩ ago

    To use the platform to support rightwing candidates in fachist/ hostile takeovers of democratic governments.

    source

    • HollandJim@lemmy.world ⁨1⁩ ⁨year⁩ ago

      This would make sense. His affiliations with state governments, which he plays against each other when looking to set up somewhere, would be reinforced if he could control the conversation. Then there’s China, where he’s the one beholden to the government, and he could offer some control to help shape their international image in return for just access to cheap labour and an export market.

      source
  • snaggen@programming.dev ⁨1⁩ ⁨year⁩ ago

    Saudi Arabia felt Twitter was a problem, so they paid Elon to take it down in a way it wouldn’t come back.

    source

    • Sarcastik@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Why would they “take it down” when anyone with even a modicum of business knowledge would assume a better replacement would be created and take it’s place. This making the next version of Twitter even harder to control.

      Taking it over and controlling the content on it is/was the smart play, especially if you’re going to fork over the $ to buy it outright.

      Stop trying to justify Elon’s shit business decisions. He can just be a fucking moron that got lucky with a few strategic purchases.

      source

      • -> View More Comments
    • sturmblast@lemmy.world ⁨1⁩ ⁨year⁩ ago

      if the goal is to collapse the business they would have done it a lot faster

      source

      • -> View More Comments
    • cheese_greater@lemmy.world ⁨1⁩ ⁨year⁩ ago

      This

      source
    • ChickenLadyLovesLife@lemmy.world ⁨1⁩ ⁨year⁩ ago

      I wonder if they made the same arrangement with him to get him to ruin electric cars - and then were surprised when people kept buying Teslas anyway.

      source
    • bus_go_fast@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Yeah, that’s the only thing I could think of.

      source
  • 0xD@infosec.pub ⁨1⁩ ⁨year⁩ ago

    To jerk himself off about being a genius businessman.

    source
  • lloram239@feddit.de ⁨1⁩ ⁨year⁩ ago

    The goal with the X rename was to make a western equivalent of WeChat, that’s a Chinese app for chatting, social media and payment. While X was the name of the payment company Elon had before it got turned into Paypal.

    Crux is, outside of the name change, we have yet to see “X” gain any more features that would bring it closer to WeChat, it’s still just a broken version of Twitter.

    source

    • dutchkimble@lemy.lol ⁨1⁩ ⁨year⁩ ago

      This seems like the most plausible reply I got, but lkke you said, nothing has happened on that front yet

      source
  • peg@lemmy.world ⁨1⁩ ⁨year⁩ ago

    I think he was only interested in building a great big echo chamber for his own twisted ideas. Profitability is only a secondary concern.

    source

    • hydrospanner@lemmy.world ⁨1⁩ ⁨year⁩ ago

      interested in building a great big echo chamber for his own twisted ideas.

      Then he should’ve, y’know…built one, instead of buying one that was already built and destroying it.

      Then again I’ve never been on Twitter, so I can just sit back and snack on the popcorn with Michael on this one.

      source
  • cheese_greater@lemmy.world ⁨1⁩ ⁨year⁩ ago

    See my thing posted like right just above this

    source
• BigBlackCockroach@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Lmao Elon 😂

  source
• Destraight@lemm.ee ⁨1⁩ ⁨year⁩ ago

  Oh wow you can’t even read the news article unless if you sign up for it. That is so stupid

  source

  • fat_stig@lemmy.world ⁨1⁩ ⁨year⁩ ago

    archive.ph/tCWIM

    Bypass most paywalls, also deny them the clicks. archive.today have a plug-in for Firefox, other paywall bypass tools are available.

    source
  • ASeriesOfPoorChoices@lemmy.world ⁨1⁩ ⁨year⁩ ago

    If this were a different sub/community/magazine, I’d suggest looking up the passwall browser extension (and mention that Kiwi browser on Android can load desktop extensions), but since this isn’t, I won’t.

    source
  • bus_go_fast@lemmy.world ⁨1⁩ ⁨year⁩ ago

    Almost like they are trying to destroy their business. These news sights are getting worse. I’m at a point that I won’t even bother clicking anymore. I’ll just be annoyed with the ridiculous things that pop up.

    source
  • sturmblast@lemmy.world ⁨1⁩ ⁨year⁩ ago

    that’s nothing new

    source
• jeremy_sylvis@midwest.social ⁨1⁩ ⁨year⁩ ago

  “Most” seems to be doing some incredibly generous work here.

  source
• Ashyr@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

  It’s paywalled and I’m a little confused by the apparent disparity between the title and the claim that most of the advertisers have since returned?

  Which is it?

  source

  • scarabic@lemmy.world ⁨1⁩ ⁨year⁩ ago

    The claim in the headline is based on one agency seeing only 2 of its 28 clients using X.

    The X statement says that about 90% of its biggest spenders from last year are advertising again.

    These could both be true. My opinion is that the first doesn’t mean much and the second is damn lies.

    source
  • Buffalox@lemmy.world ⁨1⁩ ⁨year⁩ ago

    I am sure you can trust everything out of X. Just like you can trust Musk. If I remember correctly he claimed it was the Jews 😱 who were to blame for the decline in X advertisements. I guess he correctly identified the problem and fixed it. /S 😆

    source

    • Ashyr@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

      Yeah, I have no trust in Musk or X. I’m just trying to understand the actual circumstances. Just because I want X to fail and Musk to go bankrupt, doesn’t mean I should uncritically examine headlines that conform to my hopes and expectations.

      source
  • NightOwl@lemmy.one ⁨1⁩ ⁨year⁩ ago

    archive.vn/tCWIM

    source

    • Ashyr@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

      Perfect, thank you.

      source
• Reality_Suit@lemmy.one ⁨1⁩ ⁨year⁩ ago

  Fucking lying ass muskrat.

  source
• arc@lemm.ee ⁨1⁩ ⁨year⁩ ago

  I live in Ireland so there was always limited advertising on Twitter. There might be the odd campaign but it was blessedly free of ads in general. Then one day I logged in and it was a tidal wave of hot garbage - ads in Turkish, trade fairs in Chinese provinces, African NGOs etc. Just absolutely irrelevant bottom of the barrel dreck every 2 or 3 tweets in the feed. No matter how much I blocked there was more just like it.

  I don’t know if this was an aberration, a bug or a cynical attempt to screw over advertisers by draining their wallets. I just uninstalled Twitter and used the web version with an ad blocker. I don’t even see this shit any more. I wonder if the advertisers are still getting charged though. I hope they are though since paying $$$ for minimal engagement might convince them how worthless the platform is.

  source
• netchami@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

  No one should buy anything from Twitter or any of the other businesses owned by this crazy idiot

  source
• PeleSpirit@lemmy.world ⁨1⁩ ⁨year⁩ ago

  When it says advertising, it always makes me think they mean product placement in the comments.

  source

  • gregorum@lemm.ee ⁨1⁩ ⁨year⁩ ago

    Elon’s mean tweets and disinformation do that, and the product being placed is hate speech.

    source
• autotldr@lemmings.world [bot] ⁨1⁩ ⁨year⁩ ago

  This is the best summary I could come up with:

  ---

  Ebiquity, which works with 70 of the top 100 top-spending advertisers, according to media research company COMvergence, said that just two of its clients had purchased ads on X last month.

  Ebiquity said its analysis appears to contradict statements made by X CEO Linda Yaccarino who said in an on-stage interview last month that “90% of the top 100 advertisers have returned to X in the last twelve weeks alone.”

  An X spokesman clarified that the 90% figure referred to X’s 100 top spenders from the prior year, and declined to publicly comment about Ebiquity’s findings.

  Twitter’s largest clients have typically also been among the biggest spending global advertisers, such as Amazon, Unilever, Coca-Cola, and IBM, Bloomberg previously reported, citing data from the analytics firm Sensor Tower.

  A number of advertisers have stopped or drastically reduced their spending on X over the past year, amid concerns about the content it hosts and the general reliability and effectiveness of its ad platform.

  A review of data from Sensor Tower conducted by progressive watchdog group Media Matters found that while some advertisers had technically returned to purchasing ads on X, they were doing so at just a fraction of the level of their previous spend.

  ---

  The original article contains 535 words, the summary contains 203 words. Saved 62%. I’m a bot and I’m open source!

  source
• chemicalwonka@discuss.tchncs.de ⁨1⁩ ⁨year⁩ ago

  Fuck this bastard

  source
• foggy@lemmy.world ⁨1⁩ ⁨year⁩ ago

  :o

  source
• maeries@feddit.de ⁨1⁩ ⁨year⁩ ago

  Tja

  source
• FakinUpCountryDegen@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Weird… And yet, ads from the world’s biggest advertisers are still regularly shown to me on X…

  source
• woshang@lemmy.world ⁨1⁩ ⁨year⁩ ago

  No ad is even better, but thats a impossible mission.

  source
• Veneroso@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Flushing Twitter straight down the Shitter!

  source
• Magrath@lemmy.ca ⁨1⁩ ⁨year⁩ ago

  This is probably a pretty bad time economically too. A lot of companies are cutting costs.

  source
• PrincessLeiasCat@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

  Damn woke liberals again being too capitalist for poor Elon

  source
• pineapplelover@lemm.ee ⁨1⁩ ⁨year⁩ ago

  I see Musk’s plan now. Can’t sell user data if nobody wants to buy it.

  source