Twitter could see its advertising revenue seriously cut in 2023

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In October last year, market research firm Insider Intelligence estimated that Twitter would earn $4.74 billion in advertising revenue by 2023. A couple of weeks ago, it lowered its initial forecasts to $2.98 billion . Insider Intelligence justified the cut by highlighting Twitter's ongoing problems with brand safety, its confusing business policy, and its technical difficulties.

According to Sensor Tower, more than half of Twitter's top 1,000 advertisers have reportedly left the social network following Elon Musk's arrival. Or at least many of those advertisers have put the germany phone number data brakes on their investment in Twitter.

In the past two months, Mondelez, Unilever and Coca-Cola, which used to make their way into the Top 10 advertisers on Twitter, have not even managed to crack the Top 50. The brands that make up the Top 50 spent $83 million over the past two months, compared with $102 million in the same period last year.

Advertisers that continue to turn their backs on Twitter include Volkswagen, AT&T, Stellantis and Mars , according to Reuters. However, Volkswagen, which stopped advertising on Twitter last November due to issues directly related to brand safety, could soon resume its advertising investment on the social network in some markets.

Experts believe that there is no reason for advertisers to return to Twitter, as the social network has done nothing to dispel their fears. “The Twitter ecosystem is not designed to inspire trust. Layoffs and resignations and confusion surrounding the removal of legacy blue badges do not help to build advertisers’ trust in Twitter,” explains Andrea Malgara, managing partner at Mediaplus, in statements to Horizont .

Helge Ruff, founder and CEO of social media agency One Two Social, is equally critical of Twitter. “We are not currently considering using Twitter for the implementation of paid advertising campaigns,” he stresses. “The problem is that Elon Musk does not understand social media . Instead of attracting more users to Twitter, motivating them and rewarding them for posting interesting content, Elon Musk seems intent on doing the opposite,” says Ruff.