Advertising agencies say nearly all big brands have paused spending on Twitter

Two interesting paragraphs (to me at least):

«Analysis by left-leaning non-profit Media Matters suggested 50 of the top 100 advertisers — accounting for $750mn in advertising in 2022 — had paused or announced their intention to pause spending since Musk took the helm, and a further seven had reduced spending to a trickle. Those 50 advertisers accounted for $317mn of Twitter’s $5bn in revenues in 2021, Media Matters said.»

The top 100 accounted for less than 20%? Wow. The other key paragraphs is IMO this bit of culture shock:

«It is unclear if and when brands will return. “It’s hard to have criteria [for returning to the platform] when Musk manages by tweet and something changes on the platform every day that causes advertisers concern,” said an executive at another advertising agency.»