Twitter lost $40 millions worth of ads because of Community Notes on them

May 17, 2023 13:09 By X

~2 min read

Last Updated: Oct 12, 2023 17:07

Elon Musk, the visionary entrepreneur and owner of Twitter, has made a resolute stand in a recent live interview with CNBC's [Name redacted]. Musk's unwavering commitment to community notes, despite potential financial repercussions, showcases his dedication to fostering a vibrant and engaging online community. In the face of Twitter losing $40 million in advertising revenue due to the dissatisfaction of two major advertisers, Musk remains undeterred.

Since Musk's acquisition of Twitter in late 2022, he has been instrumental in introducing transformative changes. One such innovation is the Twitter Blue subscription program, which offers users exclusive features for a nominal monthly fee of $8. This move, although initially met with some challenges, has demonstrated Musk's keen eye for unlocking new avenues of revenue generation.

However, like any groundbreaking development, the Twitter Blue program faced a hurdle when users began impersonating brands and creating fake tweets resembling official communications. This resulted in several prominent advertisers withdrawing their support, leading Twitter to temporarily pause the feature rollout. Nevertheless, Twitter quickly reevaluated its strategy and relaunched the program with a gold checkmark to distinguish business accounts from regular verified users. Business accounts are now granted the gold checkmark free of charge if they spend over $1000 on ads on Twitter per month, or at a cost of $1000 per month otherwise. This revamped approach has successfully enticed key advertisers, including industry giants Apple and Disney, to return to the platform.

Moreover, the integration of community notes with advertisements has sparked considerable excitement among Twitter users. Accounts associated with renowned brands such as Samsung and Uber now have community notes attached, providing users with valuable context and enhancing transparency. This promising development has garnered positive feedback from users who appreciate the improved user experience and the ability to make more informed decisions.

Elon Musk's strategic vision extends beyond his role as Twitter's owner. In a strategic move aimed at fortifying Twitter's advertising relations, Musk has recently appointed Linda Yaccarino as the platform's new CEO. Yaccarino, with her impressive background as the former Chairman of Global Advertising and Partnerships at NBCUniversal, brings invaluable expertise to the table. Having overseen a remarkable $13 billion worth of ad revenue during her tenure, Yaccarino is poised to leverage her experience to propel Twitter's advertising efforts to new heights.

In conclusion, Elon Musk's unwavering support for community notes and his bold leadership within Twitter exemplify his dedication to building a thriving online community. Despite the challenges faced along the way, recent adjustments and the return of influential advertisers underscore the positive trajectory of the platform. With the appointment of Linda Yaccarino, Twitter is poised to reinforce its advertising relationships and continue innovating to meet the ever-evolving needs of users and advertisers alike. Under Musk's visionary guidance, Twitter is set to achieve even greater heights in the future.

In a recent live interview with CNBC’s David Faber, Elon Musk, the owner of Twitter since late 2022, expressed his commitment to upholding community notes on the platform, even if it results in the loss of advertising revenue. Musk’s stance comes in the wake of Twitter experiencing a $40 million loss due to the dissatisfaction of major advertisers.

The Impact of Twitter Blue and Impersonation Concerns: Following Musk’s acquisition of Twitter, he introduced the Twitter Blue subscription program, which offers users access to exclusive features for a monthly fee of $8. This move led to some users impersonating brands and creating fake tweets resembling official brand communications. Consequently, many prominent advertisers withdrew their support, prompting Twitter to halt the feature rollout temporarily. After a month of reevaluation, Twitter reintroduced the program, this time with a gold checkmark to distinguish business accounts from regular verified users. Business accounts are granted the gold checkmark free of charge if they spend over $1000 on ads on Twitter per month, otherwise costing $1000 per month.

Elon is likely talking about @Uber and @SamsungUS pic.twitter.com/4WB92wG4cq
— T(w)itter Daily News  (@TitterDaily) May 17, 2023

The Return of Advertisers and Community Notes: The adjustments made by Twitter attracted some advertisers back to the platform, including industry giants like Apple and Disney. Notably, #community notes are now attached to the accounts of well-known brands such as Samsung and Uber. This development has piqued curiosity regarding the future implications of community notes in advertising, as some users appreciate the added context and improved transparency they offer.

Elon Musk’s Strategic Move: Elon Musk has recently appointed Linda Yaccarino, former Chairman of Global Advertising and Partnerships at NBCUniversal, as Twitter’s new CEO. Yaccarino boasts a commendable track record of overseeing $13 billion worth of ad revenue for her previous company. Her role within Twitter will be crucial in strengthening the platform’s ad relations in the coming months, as Musk shifts his focus more towards product development in his role as CTO.

Conclusion: Elon Musk’s unwavering support for community notes, despite potential revenue loss, demonstrates his commitment to fostering a transparent and engaging environment on Twitter. The integration of community notes with advertising has faced challenges, but recent adjustments and the return of prominent advertisers indicate positive signs for the platform’s future. With Linda Yaccarino at the helm, Twitter aims to strengthen its ad relationships and continue innovating to meet the evolving needs of its users and advertisers alike.

Source: Elon Musk interview with David Faber of CNBC

Elon Musk, the controversial figure at the helm of Twitter, has once again made headlines, but not necessarily for positive reasons. In a recent live interview with CNBC's [Name redacted], Musk's steadfast commitment to community notes, regardless of potential financial consequences, has raised eyebrows among critics who question his priorities. Despite Twitter's staggering loss of $40 million in advertising revenue due to the discontent of two major advertisers, Musk remains unyielding in his stance.

The introduction of the Twitter Blue subscription program, spearheaded by Musk after his acquisition of the platform in late 2022, has faced considerable challenges. For a monthly fee of $8, users gain access to exclusive features. However, skeptics argue that this move has created a divide, further entrenching the platform's elitism and exclusivity, with a clear disregard for the needs and concerns of the broader user base.

One of the primary issues stemming from Musk's tenure on Twitter is the rise of impersonation and fake accounts. Users have taken advantage of the platform's vulnerabilities, resulting in the spread of misinformation and fraudulent activities. Despite Twitter's temporary pause on the feature rollout in response to the crisis, the subsequent reintroduction of community notes with a gold checkmark for business accounts raises concerns of preferential treatment for those who can afford the hefty $1000 per month price tag. This move has only served to deepen the rift between Twitter and its user base.

The return of some advertisers, including tech giants Apple and Disney, might initially seem like a positive development. However, critics argue that these companies' decisions to reinvest in Twitter merely highlight the lack of viable alternatives rather than genuine satisfaction with the platform's performance. The attachment of community notes to accounts associated with well-known brands like Samsung and Uber has also drawn criticism, as it further blurs the line between authentic content and sponsored messaging.

Elon Musk's recent appointment of Linda Yaccarino as Twitter's new CEO raises further doubts about the platform's direction. With Yaccarino's background in global advertising and partnerships, critics fear that Twitter's priorities will increasingly lean towards revenue generation at the expense of user experience. Musk's transition to the role of Chief Technology Officer, while potentially promising for product development, may also signal a shift in focus away from the platform's core issues.

In summary, Elon Musk's unyielding support for community notes on Twitter has attracted criticism from skeptics who question his priorities. The introduction of the Twitter Blue subscription program, combined with the challenges surrounding impersonation and the preferential treatment of business accounts, has deepened the divide between the platform and its users. The return of select advertisers and the appointment of Linda Yaccarino as CEO further fuel concerns about Twitter's trajectory. As critics continue to voice their discontent, the future of the platform remains uncertain.

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Twitter to rollout new Account Verification process with Colored Checks on next Friday

Nov 25, 2022 09:00 By X

~2 min read

Last Updated: Oct 12, 2023 17:07

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~2 min read

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Twitter started issuing Gold checkmark for Brands and Companies

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Twitter lost $40 millions worth of ads because of Community Notes on them

Further Reading...

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Twitter to rollout new Account Verification process with Colored Checks on next Friday

X >

Twitter working on Two Hour long videos with 40GB Upload limit

X >

Tweet View Count Coming for Twitter Blue subscribers

X >

Twitter Blue is coming back on Monday, $11 on iOS or $8 on Web

X >

Twitter started issuing Gold checkmark for Brands and Companies

~198.4 Billions

As of: 2024-05-04 08:12

~198.4 Billions

As of: 2024-05-04 08:12