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☆ Elon Musk is threatening to 'thermonuclear name and shame' advertisers that press pause on Twitter. It's a dumb thing to do to your biggest customers.
▼ + stars: | 2022-11-07 | by ( Jake Swearingen | ) www.businessinsider.com time to read: +8 min

After advertisers paused spending, Musk went on the offensive, tweeting that advertisers were causing a "massive drop in revenue," He continued: "Extremely messed up! Per a Standard Media Index report, total advertising spending was down by 5% year-over-year in September. Other advertising giants like YouTube and Meta reported year-over-year declines in advertising revenue, with YouTube down by 2% and Meta down by 4%. Brand advertising relies highly on "brand safe" outlets where ads won't appear near objectionable content like violence, pornography, or hate speech. To replace the $40 million in lost monthly revenue, Twitter would need to sign up a little over 5 million Twitter Blue accounts paying $8 a month in its first month.

☆ The #StopToxicTwitter coalition urging brands to stop advertising on Twitter has resulted in 'a massive drop in revenue,' Musk says: 'They're trying to destroy free speech in America.'
▼ + stars: | 2022-11-05 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Advocacy groups sent a letter to Twitter advertisers, urging them to push Musk to embrace content moderation or suspend ads. General Mills, GM, Audi, and other brands have suspended ads on the platform since Musk's takeover. "Twitter has had a massive drop in revenue," Musk tweeted Friday, citing the pressure on advertisers. "Without deliberate efforts by Twitter to address this type of abuse and hate, your brands will be actively supporting accelerating extremism." "If they don't leave now, advertising on Twitter will be akin to advertising on Parler before the January 6 insurrection," Carusone added.

Some advertisers are pulling back from buying promotional placements on Twitter as they determine what the site will look like under new owner Elon Musk. Musk confirmed the impact of the pullback in a tweet Friday, saying “Twitter has had a massive drop in revenue," and blaming what he called "activist groups" who he said were "pressuring advertisers." As of this writing, there was not yet evidence that the companies or advertising groups had acted in response to that campaign. "If it becomes an essential street fight around hate speech, advertisers are going to run for the hills," Ives said. You’re trying to bring advertisers back on while loosening content moderation.

CNN —Elon Musk said Friday that Twitter has seen a “massive drop in revenue,” as a growing number of advertisers pause spending on the platform in the wake of his $44 billion acquisition. On Friday, organizations including the Anti-Defamation League, Free Press and GLAAD, upped their pressure campaign for more brands to rethink advertising on Twitter. Musk, known as both an innovative entrepreneur and an erratic figure, has promised to rethink Twitter’s content moderation policies and undo permanent bans of controversial figures, including former President Donald Trump. Most marketers bristle at the thought of having their ads run alongside toxic content such as hate speech, pornography or misinformation. Ad buying giant Interpublic Group, which works with consumer brands such as Unilever and Coca Cola, earlier this week also recommended its clients pause advertising on the platform.

☆ Companies are suspending ads on Twitter after Elon Musk's takeover. Here's the full list of brands pressing pause on advertising.
▼ + stars: | 2022-11-04 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

"As always, we will continue to monitor this new direction and evaluate our marketing spend," a spokesperson for General Mills told The Wall Street Journal. As is normal course of business with a significant change in a media platform, we have temporarily paused our paid advertising. VolkswagenVolkswagen has reportedly taken similar steps and pulled its ads from the social media platform, per The Wall Street Journal's anonymous sources. Jakub Porzycki/NurPhoto via Getty ImagesAccording to the report, Oreo maker Mondelez International has also suspended advertising on Twitter for the time being. Interpublic GroupMajor advertising agency Interpublic Group has also advised clients to pause spending on Twitter advertising during the company's "chaotic" interim.

☆ Factbox: Advertisers react to Twitter's new ownership
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - Advertisers are grappling with Twitter's new ownership under Tesla boss Elon Musk, who once tweeted "I hate advertising". General Motors Co (GM.N)The largest U.S. automaker temporarily paused paid advertising on Twitter after Musk completed his takeover of the social media company. The Detroit automaker said it was "engaging with Twitter to understand the direction of the platform under their new ownership." The Interpublic Group of Companies Inc (IPG.N)The global advertising and marketing services firm recommended that its clients temporarily pause their advertisements on Twitter, The Wall Street Journal reported. Compiled by Alberto Chiumento, Philipp Krach and Antonis Pothitos; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ Banned Twitter users won't return for at least another few weeks, Musk says
▼ + stars: | 2022-11-02 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

In this illustration, Elon Musk's Twitter account is displayed on the screen of a mobile phone with the Twitter logo in the background. Users who've been banned from Twitter for violating its rules, a group that includes former President Donald Trump, will not have the chance to return to the platform for at least another few weeks, the company's new owner, Elon Musk, said in a tweet Wednesday. Musk said the delay will give Twitter time to set up a process around determining when and how banned users can return. Musk tried to reassure advertisers on Thursday that Twitter won't turn into a "free-for-all-hellscape, where anything can be said with no consequences!" WATCH: The messy business of content moderation on Facebook, Twitter, YouTube

☆ Ad giant IPG advises brands to pause Twitter spending after Musk takeover
▼ + stars: | 2022-11-01 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

The Twitter logo is seen on a mobile device in ths illustration photo in Warsaw, Poland on 30 October, 2022. Twitter is losing its most active users according to research done by Reuters. Advertising giant Interpublic Group has recommended that clients of its IPG Media Brands agencies suspend all paid advertising on Twitter for at least a week following Elon Musk's $44 billion acquisition of the social media network. Yoel Roth, head of safety at Twitter, has posted several threads to Twitter discussing how the company is combating this. Finchem called upon Musk personally for help in a tweet, and Musk said in a reply on Twitter that he was "looking into" the matter.

☆ Marketers’ Continued Spending Makes WPP Latest Ad Giant to Boost Guidance
▼ + stars: | 2022-10-26 | by ( Megan Graham | ) www.wsj.com time to read: +2 min

PREVIEWLike-for-like revenue less pass-through costs compares net sales at constant currencies and excludes acquisitions, disposals and costs such as expenses billed to clients. The company saw like-for-like revenue less pass-through costs increase 3.8% in the third quarter, compared with the period a year earlier. WPP Chief Executive Mark Read said the company’s clients’ appear to be continuing their spending in the fourth quarter. “We’re not expecting a slowdown in the fourth quarter,” Mr. Read said. In September, Interpublic Group of Cos.’s Magna unit clipped its U.S. advertising growth forecast for 2023, saying a weaker economic environment is likely to cut into spending.

☆ IPG Joins Ad Holding Companies in Raising 2022 Organic-Growth Forecast
▼ + stars: | 2022-10-21 | by ( Katie Deighton | ) www.wsj.com time to read: +4 min

Organic revenue growth, which removes the effects of currency fluctuations, acquisitions and disposals, was at 5.6%. Mr. Krakowsky told investors that the media planning-and-buying group IPG Mediabrands had seen double-digit organic growth. IPG’s more traditional advertising business, which includes its healthcare marketing agency IPG Health, fared better with organic growth of 6.7%. Its communications and experiential businesses, including agencies Weber Shandwick and Golin, posted organic growth of 7.8%. IPG’s organic growth was the weakest in the U.S., the company’s largest market, where it reached 4.4%.

☆ Less Growth Seen for 2023 U.S. Ad Spending
▼ + stars: | 2022-09-29 | by ( Megan Graham | ) www.wsj.com time to read: +2 min

Magna, a media investment firm that conducts industry research, reduced its U.S. advertising growth forecast for 2023, saying a weaker economic environment is likely to cut into spending. Despite the less optimistic outlook, certain factors will still underpin advertising growth, according to Vincent Létang, executive vice president of global market intelligence at Magna and author of the company’s reports on ad spending. Magna also cut its expectations on nonpolitical ad spending for the second half of this year. But it added that the uncertain economy would lead some sectors to spend less than they might have in the second half. Excluding cyclical political and international sports events, ad spending this year will grow 8.1%, Magna anticipated, down from the 9.5% increase it predicted in June.

More marketers are taking notice of California’s data privacy laws after the state said last month that cosmetics retailer Sephora had agreed to pay $1.2 million in penalties for alleged violations related to its targeted advertising practices. Some companies that have received letters have complied or begun working toward compliance, while others remain under investigation, the spokesperson said. Many companies delayed compliance because they disagree with that definition and don’t want to tell consumers that they sell data, he said. The state’s determination that Sephora didn’t process global opt-out requests played a key role in the attorney general’s decision to take action. “People see a headline about Sephora and everyone thinks they sold data,” she said.

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