Companies suspend ads from Twitter after Elon Musk buyout

  • Advertisers such as Volkswagen, Audi and Pfizer have reportedly stopped advertising on Twitter.
  • General Motors and food company General Mills have also temporarily suspended advertising.
  • “At this time, we cannot say with confidence that Twitter is a safe place for brands,” said one advertising agency.

Twitter’s new leadership is making some advertisers nervous.

Companies including General Motors, Volkswagen, Audi and Pfizer have reportedly stopped advertising on the platform as concern grows over Elon Musk’s plans to censor content, according to the Wall Street Journal.

On Thursday, the billionaire sought to reassure dark advertisers that the platform would remain safe for advertising in a virtual meeting with more than 100 advertisers and ad agency executives, Insider’s Lara O’Reilly and Lindsay Rittenhouse reported.

However, some advertisers aren’t so sure and have hit pause on advertising for now. Read on to see which companies took a step back from the platform.

General Mills

General Mills, a food company whose brands include Cheerios, Bisquick and Häagen-Dazs breakfast cereals, has stopped all advertising on the social media platform.

“As always, we will continue to monitor this new direction and evaluate our marketing spend,” a General Mills spokesperson told the Wall Street Journal.

Audi

Audi A8.

Audi A8.

Max Mumby/Indigo/Getty Images



German carmaker Audi AG has also suspended its Twitter ads.

Audi spokesman Whaewon Choi-Wiles told The Associated Press on Thursday that the company “will continue to assess the situation.”

Pfizer

Pfizer also suspended its ads on the social media platform, according to the Wall Street Journal, which cited people familiar with the matter.

Pfizer did not immediately respond to Insider’s request for confirmation.

General Motors

General Motors, a rival to Musk’s Tesla, suspended its ads last week. The company said it will continue to use the platform to interact with customers, but will not pay for any services on the site.

“We are working with Twitter to understand the direction of the platform under their new ownership. As is usual with a major change in a media platform, we have temporarily suspended paid advertising. Our customer service interactions on Twitter will continue, ” the company said in an emailed statement seen by CNBC.

Volkswagen

According to unnamed sources in the Wall Street Journal, Volkswagen has reportedly taken similar steps and pulled its ads from the social media platform.

Volkswagen representatives did not immediately respond to Insider’s request for confirmation.

Mondelez International

The Mondelez International logo and Oreo cookies are seen in this still photo taken in Krakow, Poland on September 25, 2021.

The Mondelez International logo and Oreo cookies are seen in this still photo taken in Krakow, Poland on September 25, 2021.

Jakub Porzycki/NurPhoto via Getty Images



According to the report, Oreo maker Mondelez International has also suspended advertising on Twitter for the time being.

Representatives for Mondelez International did not immediately respond to Insider’s request for confirmation.

Interpublic Group

Advertising major Interpublic Group has also advised clients to freeze ad spending on Twitter during the company’s “chaotic” interim period.

Interpublic Group wrote in an email Monday reviewed by the Wall Street Journal: “The current situation is unpredictable and chaotic, and bad actors and risky behavior can thrive in such an environment.”

“At this time, we cannot say with confidence that Twitter is a safe place for brands.”

Advertising firms Havas and IPG have also advised clients to stop spending on Twitter.

Insider reached out to Twitter for comment, but did not immediately hear back.

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