The recent data by Standard Media Index (SMI) comes as
Twitter is moving to reverse the advertiser exodus. It has introduced a slew of
initiatives to win back advertisers, offering some free ads, lifting a ban on
political advertising and allowing companies greater control over the
positioning of their ads.
According to the SMI data, ad spending on Twitter in
November fell 55 percent from last year despite these months traditionally
being a time of higher ad spending as brands promote their products during the
holiday season.
Twitter did not immediately respond to a Reuters request for
comment.
Most of the companies had stopped spending in November,
estimates by another research firm Pathmatics showed, the same month that Musk
restored suspended accounts and released a paid account verification that
resulted in scammers impersonating corporations.
Fourteen of the top 30 advertisers on Twitter stopped all
advertising on the platform after Musk took charge on October 27, according to
the Pathmatics estimates.
In a November event on Twitter Spaces, Musk addressed the
issue of companies pausing ads and said that he understands if advertisers
"want to give it a minute."
Around the same time, Musk had also blamed activist groups
for pressuring advertisers to pull ads on social media platform. Ad sales
account for about 90 percent of Twitter's revenue.
Twitter's fourth-quarter revenue fell about 35 percent year
over year due to a slump in advertising, technology-focused publication the
Information reported, citing details shared by a top Twitter ad executive at a
staff meeting last week. © Reuters