Until they have more information about what Elon Musk’s leadership of Twitter will look like, several large companies have decided to suspend their advertising campaigns on the platform. Musk’s plan to get the social media company’s finances back on track while also making it easier for users to post content could take a hit as a result of this development.
NAACP president requests companies stop advertising on Twitter
According to Bloomberg, Chipotle has decided to “temporarily stop” its advertising on Twitter until the company has a “better understanding” of how things are currently going on the platform.
Several different sources say that United Airlines has decided to stop posting advertisements on Twitter.
The president of the NAACP, Derrick Johnson, made the statement on Twitter that it is “very bad for our democracy for any advertiser to support a platform that promotes hate speech, election denial, and conspiracy theories.”
Johnson is referring to the fact that it is “very bad for our democracy” for any advertiser to support such a platform. Following that, he requested that all companies refrain from advertising on Twitter.
After Musk took control of Twitter, a number of advertisers, including General Mills, Pfizer, Audi, Volkswagen, and Mondelez International Inc., removed their advertisements from the platform, according to the Wall Street Journal.
Forbes says that Ford and GM have decided to wait to buy Twitter ads until they know more about the site’s future.
According to reports, Interpublic Group, an advertising agency, has instructed some of its clients, including CVS and Nintendo, to temporarily stop purchasing Twitter advertisements.
According to the Wall Street Journal, another advertising agency called Havas Media has reportedly been advising clients to stop using Twitter to promote their businesses.
Forbes asked the team at Twitter what they thought, but they didn’t answer right away.
The Washington Post reports that Elon Musk recently stated to investors that one of his goals for Twitter is to increase the number of users who see advertisements on a daily basis by a factor of three.
Advertisers Ditch Twitter Over Free Speech Fears
After it was reported that Musk intends to fire approximately half of Twitter’s 7,500 employees beginning this coming Friday, concerns were raised regarding the site’s ability to moderate content and maintain its security.
Because of what he did, a number of high-ranking employees, some of whom worked directly with advertisers, have already been fired.
It is possible that Musk sent an open letter to advertisers on Twitter last week in an effort to allay their concerns regarding Twitter’s potential in the future.
In it, he assured them that the platform would not devolve into a “free-for-all hellscape,” in which anyone could say anything and nothing would happen as a consequence of their comments.
In addition to that, he mentioned that users would have the ability to “pick and choose” the scenarios that would work best for them.
Musk stated that he wanted to acquire Twitter for the greater good of humanity, and that the reason he sees it as a “digital town square” where people of different viewpoints can engage in civil discourse is because he sees it as a “digital town square.”
Before he purchased the business, he made statements that he intended to relax moderation guidelines in such a way that all speech that is legally protected would be permitted and controversial figures such as former President Donald Trump would be invited to return.
Following the purchase of Twitter by Elon Musk at the tail end of the previous week, there have been numerous reports of antisemitic, misogynistic, and anti-LGBTQ+ language. Additionally, the use of the N-word has increased by more than 500% in just 12 hours.
A few of the users appeared intent on testing the boundaries of the new owner’s tolerance for their presence.
Elon Musk: No Immediate Plans to Change Twitter’s Ban Policy
On Wednesday, Musk informed leaders of civil rights organizations that the status of banned accounts such as President Trump’s would continue to be unknown for at least the next few weeks.
The person who conceptualized Twitter has made a commitment to establish a “content moderation council” that will devise a “clear process” for re-admitting users to the website after they have been temporarily banned.
Musk claims that there will be representation on the council for “the civil rights community and groups who face hate-fueled violence.”
Musk has also proposed that a revamped version of the Twitter Blue subscription service could be a potential source of revenue for the company.
On the other hand, his plan to charge users $8 per month in order to obtain or maintain a verified check mark has been roundly panned by numerous individuals.
According to Forbes’s calculations, the number of people who subscribe to the service must equal 10.4 million in order for the company to be able to pay off its debts. This number is 25 times bigger than the number of accounts that have been checked.