General Motors Co ( GM.N ) said it has temporarily halted paid advertising on Twitter after Elon Musk completed his takeover of the social media company, Reuters reported.
America’s largest automaker said it was “engaging with Twitter to understand the direction of the platform under new ownership.”
Twitter did not immediately respond to a request for comment. Elon Musk is also chief executive of GM rival Tesla Inc ( TSLA.O ).
GM said it has temporarily suspended paid advertising.” The Detroit automaker added that “customer engagement on Twitter will continue.”
Advertising sales accounted for more than 90% of Twitter’s revenue in the second quarter. At an advertiser presentation in May, some advertising agencies and brands were already skeptical and worried about the future of Twitter.
On the eve of the deal, Musk addressed advertising agencies on Twitter in the form of an open letter: “Twitter clearly cannot become a free-flowing hell where you can say anything without consequences! . . .Twitter aims to be the world’s most respected advertising platform that strengthens your brand and develops your business.”
On Friday, Musk tweeted that Twitter would create a content moderation board “with very different perspectives.” (Source: news.ro. Photo source: Dreamstime)
Source: Hot News RO
Robert is an experienced journalist who has been covering the automobile industry for over a decade. He has a deep understanding of the latest technologies and trends in the industry and is known for his thorough and in-depth reporting.