Twitter’s December adjusted earnings and revenue fell about 40 percent, year over year, according to reporting in The Wall Street Journal. CEO Elon Musk, who completed his acquisition of the social platform in October, has instituted deep cuts as he tries to reinvent the company hobbled with an estimated $1 billion in interest per annum on the $13 billion he borrowed to helped pay for the company. The troubles are due in part to bad timing, as the ad market on which Twitter and other socials depend took an overall downturn. Musk, nonetheless, remains optimistic the company will at least break even in 2023. Continue reading Twitter Revenue and Adjusted Earnings Are Down 40 Percent

It’s time to assess the impact of an advertiser boycott of Facebook, started on June 17 to protest that company’s handling of hate speech and misinformation. Following the urging of civil rights groups Color of Change, the Anti-Defamation League and the NAACP, 1,000+ advertisers publicly joined in the boycott, dubbed #StopHateForProfit, which was intended to last for the month of July. Other advertisers pulled back on spending but did so less publicly. Facebook has 9+ million advertisers. Continue reading Evaluating Possible Impact of Recent Ad Boycott on Facebook

As the advertiser boycott of Facebook grows over its policy to allow hate speech, Facebook is showing the first signs of concern. Last week, its top advertisers — including Coca-Cola, Pfizer and Unilever — paused advertising to signal their displeasure over the social media platform’s stance. In a virtual meeting, said sources, chief executive Mark Zuckerberg doubled down, telling these advertisers that he won’t back down. Now communications chief Nick Clegg stresses the company is trying to curb hate speech. Continue reading Facebook at a Crossroads as More Advertisers Join Boycott

Facebook and Google’s ad businesses appeared to be unstoppable, tripling over the last five years and accounting for more than half of online advertising expenditure. That long run appears to be over with the coronavirus pandemic and its impact on the global economy. Wall Street is now projecting that annual revenues for the two companies will decline for the first time in their histories, due in part to record low prices for advertising. Even so, prospects are even more dire for the overall digital advertising industry. Continue reading In Grim Ad Market, Even Facebook and Google See Declines

Apple’s debut of its streaming service, Apple TV+, has garnered outsized attention. But an examination of Apple’s spending on marketing indicates the Silicon Valley company’s main priority is its new iPhone. In September and October this year, Apple spent a total of $71.9 million on iPhone ads and $40.3 million on Apple TV+ ads. In October, for example, Apple spent $19.9 million on television commercials for Apple TV+, but, according to measurement company iSpot.tv, only $38.6 million on the new iPhone. Continue reading Apple Drops More on Ads for iPhone Than Its OTT Platform

As the 2020 U.S. presidential election approaches, Facebook said it is strengthening how it verifies who is paying for political advertising, in an attempt to curtail the spread of disinformation on the site. Last year, Facebook began to require political advertisers to reveal the names — and prove the identities — of the organizations behind ads. At the same time, as numerous Democratic hopefuls vie for the presidential nomination, the cost for advertising on Facebook is skyrocketing. Continue reading Facebook Toughens Ad Rules in Lead-Up to 2020 Election