Musk Praises Twitter's Advertising Ability To "Reach the Most Influential People In the World" Despite a Massive Drop In Advertisers
"While a few other social networks are technically bigger, Twitter is where the writers and leaders spend their time," tweeted Elon Musk.
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On Thursday, Elon Musk took to his personal account on Twitter to share that despite other social media platforms being technically bigger, writers and leaders preferred to spend their time on the micro-blogging site.
The ability of Twitter advertising to reach the most influential people in the world is often not fully appreciated.— Elon Musk (@elonmusk) March 2, 2023
While a few other social networks are technically bigger, Twitter is where the writers & leaders spend their time.
"The ability of Twitter advertising to reach the most influential people in the world is often not fully appreciated. While a few other social networks are technically bigger, Twitter is where the writers and leaders spend their time," Musk tweeted.
However, despite the claim, Musk and the platform have seen significant cuts in advertisers and revenues. In November, he tweeted, talking about how "Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists."
Over 1000 top advertisers have stopped or cut their ad spending on the platform. Pathmatics by Senor Tower reports that this led to a decline of $4.5 billion in the advertising business. Whereas HBO reduced its spending from $12 million in September 2022 to $54,000 in January 2023.
Several users responded to Musk's tweet, with a good population calling Twitter a platform they prefer over others. @Thomasslabbers replied, "Influential writers and leaders may keep their profiles up to date on other social networks, but Twitter is where they actively engage, connect, and drive conversations." Yemeni journalist Hind Aleryani tweeted, "People here are not after money but causes. We spend our time here for free, while other social media influencers are being paid. You don't care about our security and you want us to pay you 8 dollars monthly:/."
@KongBTC added, "I see Twitter as a town hall where literally everyone comes to chat and chill on a daily basis. No other platform makes it this easy imo."
However, reports and data say otherwise. Statista's February 2023 report shows that Facebook is the most popular social media network worldwide, with 2,958 million users, followed by YouTube and WhatsApp, with 2,514 million and 2,000 million users, respectively. In the same report, Twitter ranks 14th (with 556 million users) out of 15 platforms, only surpassing Pinterest.
Despite the data, one cannot deny that Twitter, along with Linkedin, is much preferred over others as it witnesses high activity from industry leaders and creative minds.