The loss of Twitter’s advertisers is accelerating, and it may be difficult for Elon Musk to bring these customers back in a short period of time. Two weeks after Musk acquired Twitter for $44 billion, more and more advertisers suspended spending on the platform, which increased Twitter’s financial pressure. Musk has been trying to assuage advertisers' concerns over the past week, but many have left anyway.
This is the time of year when Twitter typically begins negotiating long-term contracts with its largest advertisers, which generate more than 30 percent of its U.S. ad revenue, according to people familiar with its finances.
Advertisers said that considering the uncertainty of Twitter and the confusion in the advertising sales department after the departure of many of the company's executives, most of the relevant discussions have not yet been carried out or have been suspended.