General Motors temporarily suspended paid advertising on Twitter, a day after billionaire and Tesla CEO Elon Musk completed A $44 billion acquisition social media platforms.
CNBC was be the first to report The GM decision. TechCrunch confirmed the decision of the American automaker.
“We are working with Twitter to understand the direction of the platform under their new ownership,” the company said in a statement emailed to TechCrunch. “As usual with significant changes to our media platform, we have temporarily suspended our paid advertising. Our customer service engagement on Twitter will continue.”
It is not yet clear what percentage of GM’s total advertising budget is dedicated to Twitter.
Most, if not all, automakers have a Twitter presence. Although not all of them choose paid advertising.
Ford, GM, Stellantis, Porsche, VW, and Volvo are just a few of the big-name automakers, along with new companies like Rivian, that have social media accounts on the platform. Fisker remains on Twitter even after founder and CEO Henrik Fisker deleted his personal account in April following the announcement of the deal between Musk and Twitter.
Earlier this week, Musk tried to calm advertisers’ fears with a memo posted on his personal Twitter account about his intended approach to managing the social media platform.
“There has been a lot of speculation about why I bought Twitter and what I think about advertising,” Musk wrote. “Most of them were wrong.” He went on to write that he believed Twitter could become a “common digital town square” and that the platform could not be a “free-for-all hellscape.”
Musk’s promises may not be enough for GM as it looks to compete even surpass Tesla on sale EV.
https://techcrunch.com/2022/10/28/gm-pauses-paid-advertising-on-twitter-as-chief-twit-elon-musk-takes-ownership/
