Twitter is facing an exodus of advertisers after Elon Musk tweeted a call to prosecute the US medical chief over pandemic restrictions – in his latest controversial move since buying the social media giant.
The social media site is staring down an estimated loss of UK advertising revenue around £10m, and it could deepen if more UK advertisers jump ship.
This comes after Musk caked to prosecute Anthony Fauci on the social media site, leading to a slew of criticism,.
UNBXD, a London marketing consultancy advised its clients to “focus on other social media platforms, while Cadbury pulled marketing from the platform.
Havas Media and Interpublic Group, which have clientele and offices across the UK have also advised clients to pause relations with Twitter.
All of this comes after Musk’s £35 bn takeover and his attempts to roll-out a paid-for verification scheme, which has been met with resistance and criticism.
Musk has also felt pushback after the reinstatement of controversial accounts such as Donald Trump and Kanye West.
For UK advertisers, the loss of Twitter is not significant as Facebook remains the social media of choice for marketers. Facebook holds 73.5 per cent of the share of internet users compared to Twitter’s 35 per cent share of internet users.
A representative from Mars Incorporated, the chocolate brand was quoted saying “Mars started suspending advertising activities on Twitter in late September when we learned of some significant brand safety and suitability incidents that impacted our brand,”