Those of us whose lives depend upon ad rates and clicks, etc, know the pain that comes when one sees the view rates drop or when ad rates drop. All of us look forward to November and December because the advertisers pay the highest rates and the weather gets worse, people stay home and read, all that.
Put simply; you expect December to be your best month. Not for Twitter, which saw its Ad rates fall 71%. From Reuters:
Advertising spend on Twitter Inc dropped by 71% in December, data from an advertising research firm showed, as top advertisers slashed their spending on the social-media platform after Elon Musk’s takeover.
The recent data by Standard Media Index comes (SMI) as Twitter is moving to reverse the advertiser exodus. It has introduced a slew of initiatives to win back advertisers, offering some free ads, lifting a ban on political advertising and allowing companies greater control over the positioning of their ads.
According to the SMI data, ad spending on Twitter in November fell 55% from last year despite these months traditionally being a time of higher ad spending as brands promote their products during the holiday season.
Uh. Wow. It is almost like Elon doesn’t know what he’s doing when he acquires a company that was fully formed and then breaks it. Good thing Elon has the money to cover such jaw-dropping losses, but between Tesla stock tanking, the high sale price, and the low ad sales on Twitter, purchasing Twitter may, in the end, cost Musk $100 Billion. And that is a lot of money even these days.
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