Twitter is an anathema to a lot of advertisers right now, but not all of them.
Amazon, Apple, BSkyB are among the few continuing to advertise on the social network despite the perceived risk of doing so.
Advertising there could have significant blowback on a brand now that Elon Musk is in charge. The billionaire, a self-described “free speech absolutist”, has reinstated banned accounts and dropped at least one misinformation policy since he took over a few weeks ago.
Despite all that ails the social network now, ad dollars flow where the audience goes. The latest ad spending data on Twitter has made this all too clear.
Data collated by Pathmatics showed that the week of Musk’s takeover saw a total of $35.37 million in ad spend, which increased the week after to $35.45 million and has continued to hover between $35.7 million to $35.9 million per week ever since. So while Twitter’s ads business continues to hemorrhage dollars, it’s not out for the count just yet.
“Advertisers are returning or maintaining their advertising on Twitter because the platform offers unique advantages and opportunities to reach target audiences,” said Samuel McGraw, CEO of creative agency Design Hub. “Although Twitter has recently been embroiled in a series of controversies, it is still a powerful platform that offers marketers a lot of potential.”
While Amazon’s average weekly spend pre-deal was around $1.4 million, the advertiser has still committed $698,325 since the takeover. Platformer’s Zoë Schiffer even tweeted that Amazon plans to spend about $100 million a year on the platform, pending some security tweaks to Twitter’s ad platform.
To be clear, none of this signals any real reversal on the exodus of ad dollars that has knocked Twitter’s ads business sideways. Advertisers aren’t returning to the beleaguered app in any great number. Otherwise, Twitter execs wouldn’t be offering advertisers incentives like discounts for first-time advertisers, free analytics, and access to exclusive ad formats.