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SENSOR TOWER · SEEMA SHAH · NOVEMBER 2022

Bye Bye Birdie? Advertisers Flee Twitter Post-Acquisition

Consumer Packaged Goods (CPG) spending on Twitter fell by around 20% in the two weeks following Elon Musk's acquisition of the social media platform, according to Pathmatics Advertiser data. The largest category of US advertiser spending on Twitter also saw a year-on-year drop of around 38%. Advertisers shifted their ad dollars to Snapchat and Facebook, which saw a 7% and 2% increase in CPG ad spend respectively. However, bookings on Twitter jumped 330% in the two days after the platform offered users a "verified" checkmark for an $8 subscription.

Key Takeaways:

Per Pathmatics Advertiser data, spending by Consumer Packaged Goods, the largest category of US advertiser spending on Twitter this year, fell ~20% in the two weeks post-Elon acquisition and ~38% YoY
- US ad spend by CPG advertisers saw a 7% and 2% increase on Snapchat and Facebook, respectively, in the two weeks post-Elon acquisition as advertisers shifted ad dollars away from Twitter
US ad spend by Mondelez, Volkswagen, Pfizer, United Airlines, L’Oreal, and Audi on Twitter fell by more than half post-Elon acquisition with the brands reportedly pausing (or stopping) Twitter spend altogether
In the two days Twitter provider users with a “verified” checkmark for an $8 subscription, bookings on Twitter jumped 330%

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Seema Shah

Written by: Seema Shah, VP, Insights

Date: November 2022