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Elon Musk tried to reassure Twitter’s advertisers about the way forward for the platform in an open letterIt’s Thursday morning, simply days earlier than the $44 billion buy of the corporate.
Tweeted in a word
(TWTR), Musk mentioned he doesn’t need the platform to turn out to be a “free-for-all-hellscape the place something could be mentioned with no penalties,” regardless of his acknowledged promise to rethink on its content material moderation insurance policies and bolster “free speech.”
Musk acknowledged that he’ll cut back content material restrictions. He additionally mentioned that he would reverse everlasting bans on accounts banned for violating the foundations. These plans had raised questions concerning the potential affect on Twitter’s core advert gross sales enterprise, as advertisers would possibly flinch at having their paid posts seem alongside extra controversial content material.
Musk’s letter seems aimed toward quelling these fears, which might affect the corporate’s core enterprise. In 2021, Twitter’s promoting revenues accounted for $4.5 billion or practically 89% its complete gross sales.
“Along with adhering to the legal guidelines of the land, our platform should be heat and welcoming to all, the place you’ll be able to select your required expertise in accordance with your preferences,” he mentioned within the Thursday submit. “Essentially, Twitter aspires to be essentially the most revered promoting platform on the planet that strengthens your model and grows your enterprise … Allow us to construct one thing extraordinary collectively.”
Musk acknowledged beforehand that he was open to all authorized speech on Twitter. Completely different content material guidelines apply across the globe. Excessive moderation requirements are required in Europe by the Digital Companies Act. Musk in Might mentioned he’s “precisely aligned” with the brand new legislation.
This letter exhibits that Musk, a billionaire Tesla CEO, is near finishing the Twitter acquisition. He had been making an attempt for months to exit the deal. On Wednesday, Musk visited Twitter’s San Francisco headquarters and spoke with workers, reportedly telling them he doesn’t the truth is plan to chop 75% of Twitter’s workers, regardless of prior experiences.
Twitter’s Chief Buyer Officer Sarah Personette responded to Musk’s Thursday tweet saying that she had a “nice dialogue” with Musk on Wednesday. “Our continued dedication to model security for advertisers remained unchanged,” Personette mentioned. “Trying ahead to the long run!”
The Wall Avenue Journal on Thursday reported that one advert shopping for company had already obtained requests from a couple of dozen purchasers to pause their commercials on Twitter if Musk restores Trump’s account, and different have been contemplating doing the identical.
Musk reiterated his lofty assertion from earlier that the Twitter acquisition was not a enterprise to become profitable.
“The explanation I acquired Twitter is as a result of you will need to the way forward for civilization to have a typical digital city sq., the place a variety of beliefs could be debated in a wholesome method, with out resorting to violence,” Musk mentioned.
Musk has beforehand advised that he needs to extend Twitter’s subscription income to rely much less on adverts.
