As per reports via The Verge, GroupM, recognized as Twitter’s biggest ad buyer, declared the platform to be no longer a high-risk platform for them.
For any social platform, advertising is a primary source of revenue. The same policy goes for Twitter. Although Elon Musk has tried his best to generate revenue by expanding the perks of Twitter, advertising is still one of the top ways to make money.
As Elon Musk took over Twitter, controversies arose that created uncertainty for advertising agencies about trusting the platform. Twitter was labelled a high-risk platform by its biggest buyer, GroupM, back in November. But with the current situation, the company appointed a new CEO and marked the platform as “cautiously optimistic” due to the new leadership.
As per reports via the Financial Times, new leadership and the reduction of harmful content on the platform are the factors that convinced GroupM to keep buying ads on the platform. The layoff of many employees and impersonating high-profile people on the platform were the main reasons for GroupM to take a step back from the platform.
Along with GroupM, other companies like IPG and Omnicom Media Group discontinued purchasing Twitter advertisements for comparable reasons. However, advertisers will be more likely to purchase advertisements once Twitter hires a new CEO and is subject to tighter regulation.
According to GroupM, it is collaborating with Twitter to enhance “brand safety” and stop advertisements from running next to hazardous content. Further commentary on the situation was declined by the agency.
Linda Yaccarino, formerly the president of advertising at NBCUniversal, has just been named the next CEO of Twitter by Elon Musk. Yaccarino will concentrate on business operations, according to Musk, who will continue to concentrate on product development and technology. The choice of an advertising expert to lead Twitter could increase advertisers’ trust and persuade them to keep spending money on ad purchases.
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