Submitted 9 months ago by L4s@lemmy.world [bot] to technology@lemmy.world
https://www.businessinsider.com/advertisers-slash-spending-twitter-x-before-super-bowl-lviii-2024-2
Advertisers slashed spending on X by more than 55% ahead of this year’s Super Bowl::Top advertisers including NFL Enterprises, McDonald’s, and YouTube, spent $48.4 million on X ads in 2022 — last year, they spent just $21.1 million.
How is this relevant to the technology community?
A lot of people posting here think of anything is even remotely relevant to Twitter, it’s then tech news cause “twitter is tech”. But instead they also post business or financial news here instead.
This is the best summary I could come up with:
Super Bowl Sunday is the one day of the year that everyone cares about advertisements, with major brands creating a $1 billion economy around promoting their products to the massive audience tuning in to the big game.
Historically, those brands have also bet on social media sites, including X, formerly Twitter, and Facebook, to reach an even wider audience.
Last year, Adweek reported, major advertisers started shifting their Super Bowl strategy away from the X platform in favor of sites like TikTok and Reddit.
MediaRadar’s latest report found that major brands — including NFL Enterprises, McDonald’s, YouTube, and Oreo, spent $48.4 million in advertising on X ahead of last year’s Super Bowl, a 16% increase from 2022.
According to MediaRadar’s analysis of this year, the same advertisers slashed spending ahead of Super Bowl LVIII on the platform by 55%, to $21.1 million.
The most prominent advertisers that are still on the platform are increasingly promoting AI “undressing” apps and dubious crypto services, Business Insider previously reported.
The original article contains 522 words, the summary contains 165 words. Saved 68%. I’m a bot and I’m open source!
Burn_The_Right@lemmy.world 9 months ago
TIL 45% of last year’s Twitter ad revenue came from racists, misogynists, homophobes, transphobes, xenophobes, antisemites and other conservative bigots.