Billionaire Elon Musk tweeted on Monday that Apple has mostly stopped advertising on the Twitter platform.
Apple and Twitter did not immediately respond to a Reuters request for comment.
In early November, Musk blamed the losses on a coalition of civil rights groups that had pressured Twitter’s top advertisers to take action if it didn’t protect the existing content moderation mechanism. The groups said they would ramp up the pressure and ask brands to pull their Twitter ads globally.
And many companies, including American luxury carmaker Audi, have temporarily stopped advertising on Twitter since Musk completed his purchase of the platform.
Apple spent about $131,600 in announcements on Twitter between November 10 and 16, a drop from $220,800 between Oct. 1 and Oct. 16, according to ad firm Pathmatics.
One studio prepared by Media Matters revealed that Elon Musk had lost half of the top 100 advertisers on the Twitter platform in less than a month after the billionaire assumed his position as CEO of the platform.
According to Media Matters in America, 50 of the top 100 advertisers have spent nearly $2 billion on the platform since 2020, $750 million in advertising in 2022 alone.
But as of Nov. 21, 7 more advertisers have joined a growing list of companies they’ve reduced nearly to zero their advertisement on Twitter, according to India. timesAl-Arabiya.net reviewed it.
The annual advertising value on the Twitter platform is $5 billion.
Since 2020, these seven advertisers have spent more than $255 million on Twitter and nearly $118 million in 2022 alone, according to the report.
The report came on the heels of a number of major companies pulling ad spending from social platforms. According to the report, companies such as Chipotle Mexican Grill Inc., Ford, and Chevrolet have released statements confirming their plans to suspend their Twitter advertising.
Even with these ad losses, Elon Musk has remained committed to brand-unsafe actions, including amplifying conspiracy theories, unilaterally reinstating banned accounts like that of former US President Donald Trump, courting far-right accounts, and implementing a verification system random pay for subscriptions in a change of a blue check mark.
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