Twitter is reportedly hemorrhaging advertisers and CEO Elon Musk is not happy about it. According to the Financial Times, Musk called some of the top executives of those companies to complain about them leaving his platform.
Controversy is swirling around Twitter given recent layoffs that led to mass resignations.
Dozens of companies like Meta, Coca-Cola, and Kellogg’s, have stopped advertising with Twitter as media buyers send warnings amid the controversies.
Musk purchased Twitter for $44 billion after months of wrangling about the number of fake bot accounts on the platform.
“It is quite unique. The turmoil, the damage, nothing of this magnitude has happened before. Never,” an advertising executive told the website.
Musk has also drawn the ire of users and advertisers after reinstating former President Donald Trump’s account. Former CEO Jack Dorsey banned Trump’s account following the events of Jan 6.
Derrick Johnson, the president of civil rights organization the NAACP urged advertisers to leave the platform following the reinstatement of Trump’s account.
“Any advertiser still funding Twitter should immediately pause all advertising now,” he said.
The report stated that Musk “personally called CEOs to chastise them and that his decision backfired.”
Four industry figures told the Financial Times that in recent weeks agencies have had little communication with Twitter’s ads business team because so few staff were left following mass layoffs.
