“More Nazis” as a marketing strategy
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Let’s check in on Elon Musk’s strategy of making Matt Taibbi, Alex Berenson, and Cat Turd Two the site moderators:
More than half of Twitter’s top1,000 advertisers in September were no longer spending on the platform in the first weeks of January, according to data provided to CNN by digital marketing analysis firm Pathmatics, in a striking sign of how far reaching the advertiser exodus has been following Elon Musk’s acquisition of the company.
Some 625 of the top 1,000 Twitter advertisers, including major brands such as Coca-Cola, Unilever, Jeep, Wells Fargo and Merck, had pulled their ad dollars as of January, according to estimates from Pathmatics, based on data running through January 25.
Wells Fargo said it “paused our paid advertising on Twitter” but continues to use it as a social channel to engage with customers. The other brands did not immediately respond to a request for comment.
As a result of the pullback, monthly revenue from Twitter’s top 1,000 advertisers plummeted by more than 60% from October through January 25, from around $127 million to just over $48 million, according to the data.
But don’t worry, I am assured by Elon’s Silicon Valley Crypto Bro pals that pretty much everybody would consider paying $20 a month for Twitter a bargain — a bargain I tell you! — so I’m sure it will work out fine.
Plummeting revenue offset by skyrocketing debt service https://t.co/ycnYhnoCRa— Scott Shapiro (@scottjshapiro) February 11, 2023