It seems that in the coming days, it's going to be difficult for Twitter to generate revenue from advertising as the current situation of the company speaks big trouble.
GroupM, part of WPP, which is the world's biggest advertising company, and the biggest spender of Twitter is reportedly telling its clients that its not a good time to buy ads on the platform.
According to the ad agency, buying ads on the platform is high-risk, as per The Verge.
Two Other Advertising Giants Recommend to Pause Ads in Twitter
GroupM is already the third advertising giant that tells big corporations that they might want to rethink buying ads on the platform.
This is after IPG, an American publicly traded advertising company, and Omnicom Media Group, an American global media, both issued recommendations to companies to pause advertising on the social media platform.
GroupM's caution is reportedly concerned about a number of specific things in connection with Musk's takeover of Twitter.
One of the things cited by the agency in a document is the large numbers of Twitter executives who left or were fired from the platform, particularly those in charge of safety, security, and compliance.
Other things cited are the huge number of high-profile impersonations by fake-yet-verified users, as well as the concerns about the social media platform's abilities to comply with the Federal Trade Commission's orders.
Read Also: Elon Musk's SpaceX Buys a Twitter Ad Package for Starlink
Things GroupM Wants to See to Remove Twitter's High-Risk Label
According to Digiday, there are several things GroupM wants to see if Twitter wants to have its high-risk label removed. The document viewed by Digiday includes the following in the list:
- Twitter must "return to baseline NSFW levels"
- The social media platform must hire new IT security, privacy, trust and safety executives
- The platform must establish "internal checks and balances"
- The platform must maintain transparency on its plans impacting users or brand safety, as well as changes when it comes to community guidelines and moderation policies
- The platform must be committed to content moderation, and must have the ability to enforce its rules
GroupM's requests are no longer surprising as companies don't want their advertising messages to appear next to hate speeches or posts from fake-yet-verified accounts.
Elon Musk Wants to Wean Twitter's Reliance to Advertising
According to The Verge, they have tried to reach out to GroupM but the agency did not immediately respond to their request for comment.
Meanwhile, they weren't able to get the side of Twitter since the social media platform no longer has a communication department.
However, based on an internal message seen by Platformer, the platform is said to be "working through" the requirements of GroupM.
According to Musk, he wants the platform to stop being dependent on advertising for revenue. With this, he launched the $8 verification badge for everyone who's willing to pay for the service.
However, it led to chaos as prankster and impersonators posed as brands, companies, organizations and celebrities, and posted false and inaccurate contents. Because of this, the company decided to temporarily suspend that program.
Related Article: Big Advertisers are Pausing Ads on Twitter, Elon Musk Responds with Threat
