Topline
Elon Musk Tuesday said Twitter was willing to work with advertisers on where their ads are displayed on the website, but insisted that they will not be allowed to dictate Twitter’s content policy, a comment that comes days after the Twitter CEO claimed most advertisers who had abandoned the platform after his take over last year have returned.
Twitter CEO Elon Musk speaks at the “Twitter 2.0: From Conversations to Partnerships,” marketing … [+]
Key Facts
Speaking at the Possible marketing conference in Miami, Musk told NBC Universal ad chief Linda Yaccarino that Twitter is open to hearing concerns that advertisers may have “but freedom of speech is paramount,” the Wall Street Journal reported.
Musk said he is okay with companies wanting their advertising to appear in “certain places of Twitter and not in other places.”
The Twitter CEO said the social media company is willing to lose money, but will not comply with demands from advertisers on “what Twitter will do.”
The billionaire claimed he was trying to achieve a “sensible middle ground” on the issue both for brands and ensuring “the public has their voice.”
When pressed about hate speech—an issue that brands have raised major concerns about—Musk reiterated his earlier remarks about Twitter offering freedom of speech and not freedom of reach.
Musk added that this policy also applies to him as well, although earlier reports indicated that Twitter was giving a special boost in reach to all tweets made from his account.
News Peg
Musk’s attendance at the Possible conference has been the subject of controversy. Citing private email threads featuring conversations between top brands and the conference’s organizers, Semafor reported that some had expressed concerns about Musk’s “harmful and often racist rhetoric.” In the email thread, Colgate-Palmolive VP Diana Haussling wrote: “While I am a huge supporter of free speech and enterprise, we can not ignore the impact of such hate speech. I especially can’t ignore it as a black woman.” McDonald’s marketing chief Tariq Hassan also expressed frustration about Musk’s attempt to “further an agenda under the guise of freedom of speech,” adding that it was “perpetuating racism” and causing “direct threats” to communities. The report added that Twitter’s global sales and marketing Chris Riedy also chimed in and offered to arrange meetings between the brand officials and Musk in Miami during the conference.
Key Background
In an interview earlier this month, Musk claimed Twitter was now “roughly breaking even,” as advertisers who had abandoned the platform following his takeover last year have finally returned. It is unclear when this change happened and how Musk arrived at this figure, as recent internal valuations suggest Twitter is worth less than half of the $44 billion he paid to acquire it. Last month, a Vox report found that more than half of Twitter’s top 1,000 advertisers prior to Musk’s acquisition no longer show ads on the platform. The major concern among many of the advertisers who have ditched Twitter since Musk’s takeover is “brand safety” due to the Twitter’s looser moderation rules on hateful content, the report added. According to the Wall Street Journal, Twitter’s adjusted revenue and earnings for the month of December were down 40%, year over year.
Further Reading
Twitter Chief Elon Musk Tries to Reassure Advertisers (Wall Street Journal)
Musk Claims Twitter Is ‘Roughly Breaking Even’ (Forbes)
Source: https://www.forbes.com/sites/siladityaray/2023/04/19/musk-says-twitter-is-willing-to-address-advertiser-concerns-but-freedom-of-speech-is-paramount/