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Advertising tech firm tvScientific wants to prove that streaming TV ads are as effective as Meta and Google ads. TvScientific's previous investors include NBCUniversal, Norwest Capital Partners, Aperiam Ventures, and Hearst VenturesTvScientific tries to make it as easy to buy and measure streaming TV ads as it is to buy and measure Google and Meta ads. The firm specializes in technology that tracks what someone does after watching a streaming TV ad. But Meta and Google have millions of advertisers, and tvScientific wants the top 10% to 20% of Meta and Google's advertisers to be its clients. Over time, Fairchild said that he expects more big brands that buy linear TV ads for reach and frequency will also begin buying streaming TV like performance marketing.
Persons: TvScientific, Jason Fairchild, Martin Sorrell's, Hearst Ventures TvScientific, Fairchild, tvScientific, Chris Riedy Organizations: Business, Ventures, BDMI, Progress Ventures, Norwest Capital Partners, Aperiam Ventures, Hearst Ventures, Google, Meta
Elon Musk abruptly decided to give all Twitter users a maximum amount of access to the site. Twitter workers have received little communication on the change from Musk and CEO Linda Yaccarino. The change allows users to view only a certain number of Tweets before being prevented from interacting with the site. "Neither of them have said anything about what's going on," one of the people familiar said, referring to Musk and new CEO Linda Yaccarino. Once Musk decided to implement the rate limit, many Twitter workers asked in private Slack channels if it was a permanent change.
Persons: Elon Musk, Linda Yaccarino, Musk, Chris Riedy, Yoel Roth, Twitter's, Sheldon Chang, Chang, Riedy, Lou Paskalis, Kali Hays Organizations: Twitter, AJL, Reuters Locations: khays
Semafor reported that execs at some big advertisers had concerns about Elon Musk's "racist rhetoric." McDonald's marketing chief feared Musk was "perpetuating racism" under "the guise of freedom of speech." A Colgate-Palmolive exec said she was "mindful of the harmful and often racist rhetoric" of Musk, per Semafor. Colgate-Palmolive's consumer experience general manager, Diana Haussling, said she was "mindful of the harmful and often racist rhetoric of Elon Musk," according to the report. Semafor reported that Chris Riedy, Twitter's global sales and marketing chief, didn't defend Musk in his response but thanked the advertisers for their feedback.
About half of the 20 people who reported to Elon Musk after his takeover have left Twitter. Musk has hired some new people, including engineers who may be working on an AI project. Elon Musk's Twitter is ruled by chaos. None have been directly replaced, the people familiar said, although Musk has also hired some new people from outside his companies. Below is a complete list of who Musk set as his direct reports, including those who have already left the company.
Twitter's revenue for the fourth quarter of 2022 fell by 35%, according to a report by The Information. The company's daily revenue on Tuesday was 40% lower than the same day a year ago. As of Tuesday, the company's daily revenue was 40% lower than it was that day over a year ago, The Information reported. Musk's goal is prevent ad revenue from falling further. Since he took over, more than 500 of the platform's top advertisers have left, The Information reported.
The ad industry is crossing its fingers that Twitter is a safe place to advertise. 2022 was a volatile year for the advertising industry. DeGroote believes the 2023 ad market growth forecasts from major ad buyers like GroupM (5.9% growth), and Magna (5% growth to $822 billion) are too optimistic. Meta, has also seen its ad revenue decline, and has dumped $4 billion so far into building a so-called Metaverse, which hasn't driven any revenue yet. Elon Musk acquires TwitterMusk's acquisition of Twitter — and subsequent decimation of its employee ranks, including its revenue-driving advertising operations — shook the ad industry.
Several Twitter sales staff who committed to Elon Musk's "Twitter 2.0" vision have since been laid off. Bloomberg said Musk is trying to balance layoffs across Twitter's technical and sales teams. Some employees on Twitter's sales team were given notice they were being laid off despite having committed last week to Musk's ultimatum to work harder and longer under his leadership, Bloomberg reported. Account managers and client partners on the sales team were part of the layoffs, which took place Sunday evening, Platformer reported. Riedy has replaced Robin Wheeler who had initially been persuaded by Musk to stay at Twitter after handing in a resignation letter on November 10.
Elon Musk sacked Twitter exec Robin Wheeler after she refused to fire more staff, sources said. Wheeler was sacked despite Musk persuading her to stay after she tried to resign, per Bloomberg. Some Twitter sales staff found out over the weekend and on Monday they were fired, per Platformer. Two sources said Wheeler was fired on Friday after she refused to cut the headcount of Twitter's ad sales team — a department that was already depleted. Chris Riedy, Twitter's former vice president of the Europe, Middle East, and Africa region, replaced Wheeler at the weekend, per multiple Insider sources.
Chris Riedy is the latest executive to lead ad sales at Elon Musk's Twitter. He is replacing Robin Wheeler, who was let go after she refused to fire more people from a depleted ad sales team. Riedy hosted an all-hands meeting with Musk for Twitter's sales staff on Sunday. Another week under Elon's ownership, another ad sales chief at Twitter. Bloomberg also earlier reported that Musk didn't discuss the impending sales team layoffs that followed the call.
Twitter executive Robin Wheeler is leading the company's global ad sales teams. But she is now de facto Twitter ad sales chief, and those who know her say she's used to navigating complex problems. Advertisers describe a sales team hampered by an information vaccuum as Musk unleashes chaos through his tweetsOne of Wheeler's biggest tasks is getting a depleted ad sales team organized and running. From AOL to Twitter, Wheeler has managed sales teams in crisis beforeWheeler has operated successfully in chaotic environments before. In 2020, she become the commercial lead for MoPub, Twitter's ad network that helped publishers and app developers sell mobile ads.
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