Twitter To Court Advertisers Over Unsure Future Under Elon Musk
Twitter Inc. faces a skeptical public as it showcases its advertising opportunities to court advertisers on Wednesday night at an event in New York City over Musk. Three ad agency executives told the media as plans of the social media company under billionaire Elon Musk’s command remain unclear.
Elon Musk, who is buying Twitter for $44 billion, has tweeted that the platform should be ad-free to have more control over its content moderation policies.
Twitter has told employees in internal staff meetings and public filings that its ad business and other operations would continue as normal until the deal closes. Still, the company could not speculate on what changes Musk might make.
Mark DiMassimo, the founder of the DiMassimo Goldstein advertising agency, said that It’s like the Ghost of Christmas Yet to Come hanging over. He is referring to the presentation court of Twitter to advertisers on Wednesday over an unsure future under Musk. Whatever Twitter says, all you want to know is what this will look like in the future.
The social media company had $5 billion in revenue in 2021, most of it from the sale of digital advertising on its website and app.
Ad executives said that most advertisers haven’t withdrawn advertising dollars from Twitter but are monitoring closely to see how Musk could change the platform and its business.
Alex Stone, SVP of advanced video and agency partnerships at Horizon Media, said that he wished Twitter would come forward and talk about it. Because there is a lot of curiosity in everyone.
At the NewFront presentation, Twitter announced extending its partnerships with media companies Conde Nast and Essence, which will create video and audio programming on the Twitter platform. AND! News will launch a new live-streamed show on Twitter to discuss TV shows like The Real Housewives and Stranger Things.
Advertisers can buy advertising space published next to the videos of communication companies.
Twitter has also announced that Fox Sports will host live shows ahead of matches at this year’s FIFA Men’s World Cup in Qatar and the 2023 Men’s and Women’s World Cup.
