Brand advertisers have fled from Twitter and have no intention of returning, at least until owner Elon Musk stops performative tweets in his embarrassing attempt to endear himself to right-wing trolls. That’s not likely to happen anytime soon, so in the meantime, Twitter has slashed its advertising rates by 20% with the predictable result of attracting low-quality advertisers.
From The Wall Street Journal:
The cost of Twitter ads has dropped by about 20% on a per-one-thousand-impressions basis in that time, said Bruce Cran, chief executive of marketing agency Global Performance Commerce…The total number of advertisers on Twitter dropped by more than 50% year-over-year in January and February, according to Pathmatics data.
“Interest in Twitter has all but evaporated in recent months,” said Christopher Spong, supervisor of social media and communications at performance agency Collective Measures, referring to clients focused on driving results rather than awareness.