We’re one week into Elon Musk’s stewardship of Twitter, and according to Musk, it has already spurred a “massive drop in revenue.” Or not, and that’s just what Musk is saying to distract everyone from the absolutely heartless layoffs of thousands of people that have already spurred one federal lawsuit.
It’s not unreasonable to assume Twitter has had a drop in revenue: many huge companies — GM, General Mills, and Audi are just a few names on the list — have paused advertising campaigns during Musk’s tumultuous takeover and ongoing mass firing event. In his version of events, the failure of advertisers to provide revenue to what’s left of his company is an attempt to “destroy free speech in America.”
The responsibility of advertisers to support free speech as a principle is unclear, but their general approach to spending has a bias toward stability and brand safety. The day after Musk took over Twitter and began by firing its CEO, CFO, policy chief, and lead counsel, the executive in charge of leading its advertising business and brand partnerships, Sarah Personette, resigned.
Musk has said he wants Twitter to turn away from advertising as a primary revenue source, but his $8 per month Twitter Blue package with preferential tweet placement, blue check verification status, and fewer ads hasn’t launched yet.
Read more about this at theverge.com