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SHOCKING! Elon Musk uses expletives, calls advertisers shunning X blackmailers

30Nov

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Technology

SHOCKING! Elon Musk uses expletives, calls advertisers shunning X blackmailers

[ad_1] Elon Musk, speaking at the New York Times' DealBook Summit, gave a shocking declaration to advertisers that have stopped showing ads on X (formerly Twitter) and are leaving the platform, telling them to stop advertising and that they were blackmailing the X owner “with their money”. Musk's defiance also came without any restraints as he used expletives multiple times in the conversation telling brands responsible for boycotting the platform such as IBM, Disney, Comcast, and others to go away and that people will be the judge if X shuts down due to advertisers' money.As per a video by CNBC Television's YouTube channel which posted the entire exchange, the billionaire entrepreneur was asked by the interviewer Andrew Ross Sorkin, financial columnist at the New York Times about the r...

Here’s what Twitter lost in advertising revenue in final months of 2022

20Jan

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Technology

Here’s what Twitter lost in advertising revenue in final months of 2022

[ad_1] Top advertisers on Twitter slashed their spending after Elon Musk's takeover, according to estimates compiled for Reuters by research firm Pathmatics, in the latest shock to the company's dominant revenue source. Fourteen of the top 30 advertisers on Twitter stopped all advertising on the platform after Musk took charge on October 27, according to the Pathmatics estimates. Four advertisers reduced spending between 92% and 98.7% from the week before Musk's acquisition through the end of the year. Overall, advertising spending by the top 30 companies fell by 42% to an estimated $53.8 million for November and December combined, according to Pathmatics, despite an increase in spending by six of them. Pathmatics said the previously unreported figures on Twitter advertising are...

Musk’s banks to book Twitter loan losses -sources

14Dec

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Technology

Musk’s banks to book Twitter loan losses -sources

[ad_1] Some of the banks that lent Elon Musk $13 billion to buy Twitter are preparing to book losses on the loans. Some of the banks that lent Elon Musk $13 billion to buy Twitter are preparing to book losses on the loans this quarter, but they are likely to do so in a way that it does not become a major drag on their earnings, according to three sources with direct knowledge of the situation. Banks typically sell such loans to investors at the time of the deal. But Twitter's lenders, led by Morgan Stanley, could face billions of dollars in losses if they tried to do so now, as investors shy away from buying risky debt during a period of economic uncertainty, market participants said. In addition, Twitter has seen advertisers flee amid worries about Musk's approach to policing twee...

9Dec

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Technology

Twitter ads to change after fiasco

[ad_1] Twitter will roll out new controls as soon as next week to let companies prevent their ads from appearing above or below tweets containing certain keywords. Twitter Inc will roll out new controls as soon as next week to let companies prevent their ads from appearing above or below tweets containing certain keywords, the social media platform told advertisers in an email on Thursday. The new controls are part of Twitter's effort to reassure and lure back advertisers that have pulled ads off the platform since it was purchased in October by billionaire Elon Musk, amid reports from civil rights groups that hate speech has risen since the acquisition and after several banned or suspended accounts were reinstated. Twitter earns nearly 90% of its revenue from selling digital ads...