Internal documents obtained by The New York Times reveal that Twitter is set to lose a staggering $75 million in advertising revenue by the end of the year due to the suspension of over 200 ad campaigns. Major brands such as Airbnb, Amazon, Coca-Cola, and Microsoft are among those either pausing or contemplating a halt to their advertising on the social media platform.
The documents from Twitter’s Salesforce X track the impact of advertising gaps, listing campaigns that have already been suspended and projecting potential losses if advertisers don’t return. While Twitter initially reported $11 million at risk, the figures continue to fluctuate as some advertisers return, while others increase spending.
Brands’ reluctance to advertise on Twitter has intensified since Elon Musk’s acquisition of the platform for $44 billion last year. Concerns about Musk’s behavior and content moderation decisions have contributed to a nearly 60% drop in advertising on the platform in the U.S. this year.
More than 100 brands have completely suspended advertising, with dozens labeled as “at risk.” This trend escalated around Nov. 15, following Musk’s endorsement of an anti-Semitic conspiracy theory, leading to a significant decline in ad spending.
Top brands like Airbnb and Uber have ceased million-dollar campaigns, while others, including Jack in the Box, Coca-Cola, Netflix, and Microsoft subsidiaries, have also suspended advertising, potentially resulting in multi-million dollar losses.
Twitter’s CEO, Linda Iaccarino of Salesforce X, addressed the internal issues during a recent meeting, attributing problems to a report by Media Matters. The report revealed that ads from companies like IBM and Apple appeared alongside posts containing Nazi content. Iaccarino emphasized that the company remains committed to defending free speech.
Meanwhile, Musk, who has drawn attention to companies continuing to advertise on Twitter, pledged to donate all ad and subscription revenue related to the Gaza war to hospitals in Israel and the Red Cross/Crescent of Gaza. The gesture includes revenue from ads purchased by charities, news organizations, and other groups promoting conflict-related content. The situation remains fluid as Twitter navigates this significant challenge to its advertising ecosystem.