Ad giants tell brands to pause Twitter spending: report
Ad agencies typically advise brands on how to spend their advertising money and IPG called things now 'unpredictable and chaotic"
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Clients are being advised by two large advertising companies to temporarily pause their paid advertising on Twitter.
Madison Avenue is taking a cautious stance toward the site after Elon Musk's takeover.
The companies are Interpublic Group and Havas Media.
"The current situation is unpredictable and chaotic, and bad actors and unsafe behaviors can thrive in such an environment," Interpublic Group wrote in an email that was seen by The Wall Street Journal. "At this moment, we cannot confidently state that Twitter is a safe place for brands."
MUSK TELLS ADVERTISERS TWITTER WILL NOT BECOME 'FREE-FOR-ALL HELLSCAPE'
A photo illustration with Twitter owner Elon Musk. (Getty Images/iStock / Getty Images)
Havas Media said to pause because of concerns about the company's ability to monitor its content, according to people familiar with the matter.
A Twitter spokeswoman declined to comment to The Journal.
Advertising accounted for 89% of Twitter's $5.08 billion revenue in 2021.
Elon Musk assured Twitter's advertisers last week that he will not allow the social media platform to turn into a "free-for-all hellscape" following the closing of his $44 billion acquisition.
"Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!," Musk said in a lengthy statement titled "Dear Twitter Advertisers." "In addition to adhering to our laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences."
Elon Musk’s Twitter account is displayed on the screen of an iPhone in front of the homepage of the Twitter website. (Chesnot/Getty Images / Getty Images)
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Musk has reportedly been meeting with top advertising executives to try to reassure them about the direction of Twitter and has offered to meet with clients directly, according to people familiar with the matter.
Twitter headquarters is seen in San Francisco, California, United States. (Tayfun Coskun / Anadolu Agency / Getty Images)
Brands typically rely on agencies to help determine where to spend their ad dollars.
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Morning Brew, an email newsletter publisher, reported on the IPG pause in a Twitter post.