Photo: Stellantis.com
Twitter is losing paid advertisers quicker than trees lose their leaves this time of year in the Northern Hemisphere.
Stellantis is just the latest company Twitter can add to the growing list of large corporations leaving the social media platform. Unsure of the direction the company will take under the leadership of Tesla's Elon Musk, companies are reluctant to advertise on Twitter until there is a clearer picture on how the company will manage posts with regard to misinformation campaigns.
Musk paid a king's ransom of $44 billion for the company last week after months of back-and-forth maneuvering. He immediately fired the chief executive and the chief financial officer and shortly thereafter relieved 3,700 people from their posts.
In a little more than a week, General Motors, Volkswagen AG, United Airlines, General Mills, luxury automaker Audi of America, and now Stellantis have bailed on their advertising commitments. Several of the companies have stated they are 'pausing' paid posts.
“We're pausing paid advertising posts until we have a clearer understanding of the future of the platform under its new leadership," the automaker said of Twitter in a statement to Reuters.
You have to wonder if there is more to it than waiting to see what the Musk way of running the popular social media site will be. As far as the exodus of the automakers goes, it may be worth wondering whether their motivation is based on the fact that Twitter is now owned by the very man who is kicking their collective cans in the electric vehicle market.
Just maybe they cannot justify feeding the Musk & Company coffers and want to see Twitter bleed out and draw Musk's attention away from Tesla's continuing dominance in electric vehicles.
Everyone will get a good look at Twitter's new open approach to information sharing this week when the mid-term elections unfold in the U.S.
Whatever reason for companies pulling away from Twitter, we have all learned not to underestimate Musk.
Musk paid a king's ransom of $44 billion for the company last week after months of back-and-forth maneuvering. He immediately fired the chief executive and the chief financial officer and shortly thereafter relieved 3,700 people from their posts.
In a little more than a week, General Motors, Volkswagen AG, United Airlines, General Mills, luxury automaker Audi of America, and now Stellantis have bailed on their advertising commitments. Several of the companies have stated they are 'pausing' paid posts.
“We're pausing paid advertising posts until we have a clearer understanding of the future of the platform under its new leadership," the automaker said of Twitter in a statement to Reuters.
You have to wonder if there is more to it than waiting to see what the Musk way of running the popular social media site will be. As far as the exodus of the automakers goes, it may be worth wondering whether their motivation is based on the fact that Twitter is now owned by the very man who is kicking their collective cans in the electric vehicle market.
Just maybe they cannot justify feeding the Musk & Company coffers and want to see Twitter bleed out and draw Musk's attention away from Tesla's continuing dominance in electric vehicles.
Everyone will get a good look at Twitter's new open approach to information sharing this week when the mid-term elections unfold in the U.S.
Whatever reason for companies pulling away from Twitter, we have all learned not to underestimate Musk.
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