In less than a month, Elon Musk has driven away half of Twitter’s top 100 advertisers – By Sharon Kann & Angelo Carusone (Media Matters) / Nov 22, 2022
These advertisers accounted for nearly $2 billion in spending on the platform since 2020
In recent weeks, 50 of the top 100 advertisers have either announced or seemingly stopped advertising on Twitter. These advertisers have accounted for nearly $2 billion in spending on the platform since 2020, and over $750 million in advertising in 2022 alone.
In addition to advertisers that have seemingly stopped all advertising on Twitter as of November 21, there are an additional seven advertisers which appear to be slowing the rate of their advertising on the platform to almost nothing. Since 2020, these seven advertisers have accounted for over $255 million in spending on Twitter, and nearly $118 million in advertising in 2022.
An asterisk indicates a company has issued a statement or was publicly reported as stopping its ads on Twitter and subsequently confirmed. Otherwise, companies identified on this list are “quiet quitters,” based on a Media Matters analysis of Pathmatics data. These companies were previously advertising on Twitter, but then stopped for a significant period of time following direct outreach, controversies, and warnings from media buyers.
