Factbox-Advertisers react to Twitter's new ownership
Reuters
Published Nov 03, 2022 08:58
(Reuters) - Advertisers are grappling with Twitter's new ownership under Tesla (NASDAQ:TSLA) boss Elon Musk, who once tweeted "I hate advertising".
Below are reactions from some of the companies:
Ford Motor (NYSE:F) Co
A spokesperson for Ford told CNBC that the automaker is not currently advertising on Twitter and had not been doing so prior to Musk's deal.
General Motors Co (NYSE:GM)
The largest U.S. automaker temporarily paused paid advertising on Twitter after Musk completed his takeover of the social media company. The Detroit automaker said it was "engaging with Twitter to understand the direction of the platform under their new ownership."
Havas Media Group
Havas Media Group, Vivendi (EPA:VIV)'s advertising unit, is recommending that its clients "temporarily pause their Twitter ads in the U.S. because of concerns about the company's ability to monitor its content," the Wall Street Journal reported.
The Interpublic Group of Companies Inc (NYSE:IPG)
The global advertising and marketing services firm recommended that its clients temporarily pause their advertisements on Twitter, The Wall Street Journal reported.
L'Oreal SA
The cosmetics maker said it had not suspended ad spending on Twitter, denying a Financial Times report from Nov. 2 that cited sources familiar with the matter.
Stellantis N.V.
The carmaker said it monitored all social media channels which involved its brands and would continue to do so in the wake of a new leadership at Twitter, where the world's fourth-largest carmaker would be "vigilant."
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.