Research shows huge drop in Twitter advertising
Reuters asked research company Pathmatics to compile some estimates.
They conclude that spending on the site by the top 30 advertisers fell 42% over November and December.
The estimate is based on ad tracking technologies on desktop browsers and the Twitter app.
Pathmatics says it does not take into account some factors, including incentives that advertisers may have received from Twitter.
This means that spending data may be higher for some brands.
Among big names…
Pathmatics found that Coca-Cola halted all ad spending on Twitter in mid-November.
Food giants Kraft Heinz and Nestle have also stopped.
And retailer Target skipped advertising for Black Friday.
But Apple and PepsiCo actually increased spending.
Neither Twitter nor any of those firms would comment on the analysis.
But a reduction in advertising would agree with separate reports from The Information.
He says Twitter’s revenue fell by about 35% in the fourth quarter due to a drop in ad sales.
All of this could make grim reading for Elon Musk.
Because they appear in the list of his things are the interest payments on the large debt that has been incurred to buy Twitter.