Analysis: more than half of Twitter's top 1000 advertisers stop advertising

Thanks CTOnews.com net friend South China Wu Yanzu, Wu Fei brother's left hand clue delivery! CTOnews.com According to data provided to CNN by Pathmatics, a digital marketing analytics firm, more than half of the top 1000 advertisers on Twitter last September stopped advertising on the platform in the first few weeks of January, indicating that the loss of advertisers after Elon Musk acquired the company has reached a very serious level.

As of January, about 625 of Twitter's top 1000 advertisers, including big brands such as Coca-Cola, Unilever, Jeep, Wells Fargo and Merck, had stopped advertising, according to Pathmatics estimates. CTOnews.com has learned that Wells Fargo said it "suspended paid advertising on Twitter" but continued to use it as a social channel to interact with customers.

Data show that from October last year to January 25 this year, Twitter's monthly advertising revenue plummeted by more than 60%, from about 127 million US dollars to about 48 million US dollars.

After Musk completed his acquisition of the social media in late October, advertisers began to worry about the platform's security and stability in light of his plans to lay off employees and relax content censorship policies. In early November, Musk said Twitter had experienced a "massive revenue decline."

While Twitter's advertising business has always been much smaller than that of rivals Facebook and Google, it still generates the majority of the company's revenue. Musk now has to fill that void because he has to pay interest on the debt he took on to buy Twitter for $44 billion.

According to Pathmatics, even among the top advertisers who are still advertising, many have significantly reduced their ad spend on the platform. HBO, for example, was Twitter's top advertiser in September, spending nearly $12 million on ads for the month, but in January (through Jan. 25), its ad spend was just over $54,000.

Musk has been trying to bring down the platform's costs and find new revenue streams for the company, including significant layoffs, overhauling its paid subscription service, and a controversial move recently announced to charge researchers and developers who rely on Twitter's API.

Musk said in a tweet earlier this month that the first three months were "very tough because Twitter had to be rescued from bankruptcy," but that the company is now on track to break even.