Media outlets around the world are talking about Twitter’s new owner, Elon Musk, but news coverage hasn’t been overly positive. According to CBS News, brands like “General Mills and Audi are the latest big advertisers to pause ads on Twitter as questions swill about how the platform will operate under the new owner” (CBS News, 2022).
So, what’s the biggest concern for advertisers? Strict content moderation. Before Musk assumed ownership, Twitter had a zero tolerance policy for harassment, violence, election misinformation and COVID-19 misinformation. Advertisers are concerned that these policies will become more “relaxed” since Musk has described himself as a “free speech absolutist” is the past. They’re also concerned that staying on Twitter can tarnish their brand.
Another celebrity that recently found himself in hot water is Kanye West. West made antisemitic remarks that caused companies he was affiliated with to end their relationships with him. According to CBS News, “researchers from Montclair State University found that 12 hours after Musk’s takeover, Twitter saw a more hostile environment on the platform” (CBS News, 2022). Tweets were filled with hate speech and aimed at people based on race, religion, orientation, etc.
IPG Mediabrands sent an announcement to all their clients strongly recommending that they pause their advertising campaigns on Twitter until there is more certainty with the platform.
90% of Twitter’s revenue comes from advertisers, but it’s not the biggest platform advertisers turn to for digital marketing (CBS News, 2022). It’s no surprise that the BIG 3 – Google, Amazon and Meta – account for 75% of Twitter’s advertising.
What do you think the future looks like for Twitter? Will large brands decide to resume advertising on the platform once the dust settles? Do you think Twitter will keep their zero tolerance policy based on Musk’s personal brand?
Source: https://www.cbsnews.com/news/twitter-elon-musk-general-mills-audi-pause-ads/
Hi Olivia,
Great article and read, I myself do not have a twitter but follow along with the news and I am aware that twitter does a great job at blocking and removing content that should not be posted (i.e. Kanye west, Donald Trump, etc). I have been a little weary of the new takeover by Elon Musk and his points of views. I think the internet can generate misinformation and hate and there are definitely things that should be monitored and removed if necessary.
I am worried if Musk allows all content to be posted, that there will be more racism and misinformation posted and spread. If that is the case, I do think Twitter will be in the headlines in a negative way and a lot of brands/companies who advertise on that platform may pull their advertising because of the negative viewpoints or commentary that twitter would be allowing. Unsure the exact future for Twitter at this point, but I am a little hesitant and I feel uneasy about the Musk takeover. I do hope brands/companies do take a stance if Twitter starts promoting the wrong message(s).
Hey Olivia!
This was a great post on a super important topic. I’ll be frank that I have a strong distaste for both West and Musk. I think Musk’s recent actions with Twitter just might run the social media channel into the ground. As verified celebrities leave the platform, users will too. I have a Twitter account but never really got into the platform – now I just use it for SEPTA updates and I’m considering deleting my account entirely. I think Musk is creating a dangerous precedent for “free speech” and that more advertisers and users will leave the platform as hate speech rises, accounts that speak poorly of him are suspended, and employees are unjustly let go. If Musk continues on the path he’s taking with Twitter, I doubt it’ll be considered one of the main social media channels for much longer. We already have a social media platform filled with misinformation in Facebook, we don’t need another one.
Hi Olivia,
I agree with morgan that the freedom of speech has taken a wrong turn on Twitter lately. Brands are always looking for people and platforms that align with their company’s image and values. So, it’s not a shock that brands broke ties with Kanye West when he started acting up. If twitter revisits its policy it is possible that brands that pulled back on advertising will reconsider the platforms. That is if they still need it and another social media platform has not taken over. It is still too soon to say how long it will take for musk’s take-over to settle it might be a positive disruption the social-media industry needs.
Hi Olivia, awesome post.
I think that the future of Twitter is not very bright. Almost everyone I know has a strong opinion of Elon Musk, either positive or negative. For those who had or had a negative view of the new Twitter leader, it was a no-brainer that moving away from Twitter was what they were going to do. As for those who love Elon, I find it interesting that many have recently begun to see the cracks in the Elon facade. He was once an advocate for free speech but is now suspending people who are speaking out against him or creating parody accounts about him. While this is okay since it has always been against Twitter’s terms of service, what is not okay is deleting and suspending those who speak out against Musk but removing the messages you get about misinformation and allowing racial remarkers to go unnoticed.
I think that because of some of the recent decisions that are being made on Elon’s part, many of his once supporters are now backing away from him and the platform since he has not held true to his promise of creating a space where free speech was not only allowed but encouraged. I think that Twitter will slowly fizzle out over the next few years until it becomes irrelevant.
This is the question of the week. While many thought the widespread layoffs and employees quitting would run Twitter into the ground, Musk noted that the platform is actually seeing a surge in users as they flock to send what could potentially be their last tweet. Many users tweeted out personal stories for how Twitter has changed their lives for the better by giving them opportunities that would have been hard to achieve otherwise. For example, a reporter wrote a story about Prince after a concert. She tagged Prince and he retweeted her article. After that, her career propelled and she was recruited by larger media outlets. These eulogies served to, in part, justify Twitter’s value and existence.
As far as advertisers pausing their spending, I am almost positive this is only temporary. After all, how many companies resumed political fundraising dollars to members of Congress stoking an insurrection after committing an overhaul to their political funding? AT&T, Toyota, Ford Motors are a few names that come to mind. I have little faith in the promises or goodwill of corporations after that.
I highly doubt Musk will outlaw hate speech and dangerous misinformation. He has been very clear about his intentions in that realm. As much as I think there is a line that must be drawn between freedom of speech and hateful, violent rhetoric that can lead to the demise of the human race, Twitter is now a private company. Musk doesn’t need to answer to stakeholders and is less bound to regulatory oversight. The reputation of Twitter as a reputable news source will be diminished as his less strict hate speech and misinformation policies continue to roll out. The blue check debacle is just one example. However, I think there is a space for this kind of platform. If Musk takes Twitter down the extremist rabbit hole and fewer people use it, a new platform will inevitably rise to replace it.
Hi Olivia,
Great topic! I read how all my classmate’s comments and how they think Musk took it too far, and I feel the same. I think a transition in management could be rough for the entire organization and demotivating for all employees when the new direction embarks on its journey with massive layoffs. It looks like Elon Musk is somehow scrambling to cover the 13bn debt he owes because of buying Twitter at an overvalued price point.
The message the employees received is either leave or be hardcore ( be ready to work for long hours) is in poor taste. I think even those who choose to stay won’t be able to feel Twitter is a happy workplace anymore. It also raises the alarm about the platform’s future as it continues to restructure as it lost its crucial talent base.
So much to unpack here. Bottom line from a marketer’s perspective is a refrain we’ve said over and over again this semester: Don’t build your digital marketing castle on someone else’s sand!
I for one still do have a twitter, and have not been in favor of Musk’s way of leading. He has fired thousands of workers, and expects the ones he’s keeping to perform at an even higher level than before. If his business model is basically reinstating Trump and “slave” labor than there is no telling how long the platform will last before it crashes for good. Twitter regulated it’s platform for a reason, and now with the “First Amendment absolutist” in charge, we may see a continuous increase in hate speech, something that is not really tolerated by the first amendment. It seems as if companies may have to pull their adds from Twitter, something that will ultimately lead to the social media platform’s demise.
Hi Olivia,
I was just talking about this topic the other day with my co-workers. We post heavily on Twitter and we were wondering how the inquisition of Twitter by Elon Musk could affect us as a brand. If I am being honest, Elon Musk buying Twitter does worry me. He is quite a character who is already running the company down by losing many employees. The mandate he put on employees to return to the office immediately made many employees quit. I don’t blame these employees. After being remote for so long and getting accustomed to a certain lifestyle (especially if you don’t even live near the office to begin with), I would quit as well.
I can see the worry about Twitters zero tolerance policy as well. Before Elon Musk bought Twitter, Trump was banned from Twitter because of the many time he violated these rules. Once Musk bought Twitter what did he do? He restated Trump to the platform. I can see this as being a worry for many companies that these rules will become more ‘relaxed’ and won’t be as enforced as before. Hopefully when the dust settles, Twitter will run smoothly. However, I won’t be surprised if Twitter will become the new MySpace.
Hi Olivia,
I agree with my classmates’ sentiment that Elon’s Twitter leadership has rapidly gone downhill and given me a distaste for a platform I used to find fun. I have my personal opinion on wealthy people just infiltrating into social media like this, but the bottom line is that Elon’s takeover has been nothing short of chaotic. I am constantly seeing videos on my TiTok FYP of Twitter employees who helped build the app getting fired or quitting due to this recent change. It makes me sad that people who have dedicated their careers to Twitter are leaving in mass numbers because they don’t like the environment anymore. I have heard rumblings of people wanting to move over to another app similar to Twitter without Elon Musk involved, but do think the reality of that is slim. Launching a whole new social media network is difficult, and what is the longevity of something like that? I could see people leaving the app and just not using Twitter anymore as a more likely possibility, but I guess we’ll have to wait and see what happens. In the meantime, I’ll spend more time on TikTok and other social media platforms.
Hey Olivia!
Since the Musk takeover, it’s been surreal to watch Twitter evolve so quickly. I have never been a frequent Twitter user (photos > words, in my opinion) but I have been impressed with how Twitter developed into such an incredible marketing tool. It’s literally the voice of the brand. With the addition of humor, sarcasm, and flawless customer service, Twitter is extremely powerful for a company.
My brother follows a ton of journalists and news sources in order to create a news junkie’s dream feed. It allows him to watch a story unfold with live updates. I know it has been instrumental in providing a method of communication during many international crises!
I’m curious to see how everything shakes out when the dust settles.
Hi Olivia,
Great post. It’s been awhile that Musk took over Twitter but I do remember seeing this all over the news and social media. People were concerned how him taking over would change things because he does describe himself as you mentioned a free speech absolutist. According from a report from Media Matters for America, they stated that Twitter has lost 50 of its top 100 advertisers since Musk took over. In 2020, these 50 advertisers spent almost 2 billion on Twitter ads that’s a lot! Hopefully Twitter regains that money somehow. Hopefully Twitter doesn’t dye out either.
Here we are with the benefit of a small amount of hindsight. Friends of mine and I were joking that perhaps Elon Musk had traveled into the future and seen Twitter develop sentience and kill all humans, which is why he returned to our time to destroy it before that could happen.
Personally, I am getting away from Twitter and will no longer use it for my media efforts. There is no social media platform that is truly healthy and yet at least the attempt to do some damage control seems admirable. The idea of giving over entirely to trolls and malefactors is ideologically repugnant.
That said — while we can laugh at what seems like Musk’s cartoonish, Bondesque super villainy — I can’t help but wonder if he will somehow have the last laugh. This article from Harvard Business https://hbswk.hbs.edu/item/is-there-a-method-to-musks-madness-on-twitter suggests that burning down Twitter might be the healthiest way to bring it to proper size and scope. Twitter had been losing money, apparently, for the last 10 years. Is Musk’s angle to turn the platform into a hell-scape of trolls and click bait? Will that ultimately lose money or is it actually a clever scheme to trap a huge number of disenfranchised internet users who are looking for what they consider a “legitimate” outlet to spread dis and mis information for their own profit and the profit of the platform. We’ll see if the garbage fire of Twitter ends up burning it out, or simply attracts enough of following of those who are drawn to the glow to keep it well-stoked.
Hey Olivia,
I agree that Twitter has definitely felt less like it’s former self. Elon Musk’s radical views definitely go against what old Twitter stood for. I have noticed a slight change in the atomsphere of Twitter since the new takeover. I could see Twitter laxness being the downfall of the platform, because instead of appealing to a broad audience with mixed views, it is gradually going into a marginalized viewpoint that I’m sure most advertisers don’t agree with.
I think it will be interesting to see if Musk will bring in the reigns and focus on actually improving the platform, versus spreading his opinions very five seconds. It seems like he wants to brand Twitter to match his own brand, which is not a great way to do business. And if he claims to be a business man, he needs to let his companies be just that; a business.