Celebs have already announced their departures from Twitter in response to Elon Musk’s challenge-riddled new leadership. Now it looks like businesses are following suit.
It has been reported that major advertisers have started to flee Twitter since Elon Musk gained ownership of the platform in October amid growing concerns around misinformation, hate speech, and bizarre changes to the popular verification process. The tech billionaire made headlines when he pulled the trigger on a company-wide gutting of departments dedicated to AI ethics and content moderation among others.
In a Gizmodo report, the use of the N-word increased 500%.
In response to the tumult, advertisers are opting to pull their dollars from the platform and other major brands are deleting their accounts altogether. Here’s a growing list of Twitter’s business account exodus.
01
General Motors
On October 28, 2022 CNBC reported the automaker suspended advertising with the social media company. “We are engaging with Twitter to understand the direction of the platform under their new ownership. As is normal course of business with a significant change in a media platform, we have temporarily paused our paid advertising. Our customer care interactions on Twitter will continue,” the company said in an emailed statement.
02
Balenciaga
On November 15, it was reported that the popular brand deleted its profile from Twitter after Elon Musk’s arrival spiked fears over the direction of the social media platform.
03
Eli Lilly
In perhaps the most brutal blow since Musk’s takeover and subsequent change to Twitter’s verification process, pharmaceutical company Eli Lilly reportedly lost millions after a paid verified account pretending to be them tweeted “We are excited to announce insulin is free now.” The message plummeted the stock price almost instantly. The company has since reportedly halted all advertising.
04
Playbill
According to CNN, Playbill, a news outlet and guide for the Broadway theater community left Twitter earlier this month due to pervasive hate speech.
In a statement, Playbill said Twitter “greatly expanded its tolerance for hate, negativity, and misinformation.” The account, which boasted about 400,000 followers, was not active on Twitter as of November 12, 2022.
05
United Airlines
Reuters reported that a United Airlines spokesperson suspended ad spending on Twitter on November 5.
06
Audi
Reuters reported that the automaker’s said it would “continue to evaluate the situation,” in a wait-and-see approach to advertising with the social media company.
07
Volkswagen
Fortune reported earlier this month that Volkswagen announced its had advised all of its brands to pause spending on the platform “until further notice” while monitoring how Twitter’s operational leadership evolves.
