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Companies withdrawing from advertising on Twitter, the impact of Elon Musk’s takeover

There is an increasing number of companies shutting down ads on the microblogging site Twitter. Automobile company Stellantis has also informed to stop all advertisements on Twitter. Stellantis says she is waiting to see how the platform turns out under the leadership of Twitter’s new owner.

“Under the new leadership, we are pausing ads until the situation is clear about the future of Twitter,” Stellantis, the merger of Fiat Chrysler and PSA, told Reuters. Musk has said that the company’s revenue has dropped significantly since he took control of Twitter. Earlier, General Motors, luxury car maker Audi of America and United Airlines had announced the closure of ads on Twitter. Volkswagen, one of the largest automobile companies, said last week that Musk’s Twitter After buying it, it has asked its brands to stop advertising on this platform.

“We are looking into the situation and will decide on the next course of action based on changes,” Volkswagen said in a statement. The Volkswagen Group has popular brands such as VW, Seat, Cupra, Audi, Lamborghini, Bentley, Ducati and Porsche. Earlier, other companies including General Motors had also made similar comments about Twitter.

Elon Musk, the chief of US electric car maker Tesla, has made a big deal in the company after buying Twitter for about $44 billion. shift has started. He has laid off a large number of staff in the company. Twitter has released an update to its iOS app, along with a few changes to the new Twitter Blue subscription. Musk has been promoting this subscription through his tweets. Twitter Blue subscribers will automatically get a blue checkmark on their profiles, which was earlier given only to verified accounts of corporates, celebrities and celebrities. For Blue Tick, Twitter users will have to pay $7.99 per month instead of $4.99 in the US. Musk has indicated that it will be increased according to the parachuting power of people in other countries.

(This news has not been edited by digitnews team. It has been published directly from Syndicate feed.)

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