Tesla chief’s Twitter acquisition has prompted some of the biggest rivals of the electric vehicle maker to stop advertising and promoting their brands on Twitter.
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The list of the companies that paused ads on the social media platform includes some of the biggest automakers like General Motors, Ford, Mazda and Volkswagen that has brands like Audi, Porsche.
Companies are uncertain about the direction of Twitter under the new ownership of Musk and the impact of the changes made by him.
General Motors and Ford were among the first automakers to say they won’t be putting ads on the platform until they understand the scope of the changes made on Twitter by its new chief, Forbes reported.
General Motors said that they are engaging with Twitter to evaluate the direction of the platform under their new ownership.
Stellantis also said that they will pause paid advertising posts until they have a clear understanding of the future of the platform, Reuters reported.
Companies like Volkswagen have stopped advertising on Twitter due to concerns about how Twitter will moderate content, Forbes reported.
Some automakers like Stellantis-owned Citroen hinted at a typical situation being created by advertising on a platform owned by the man who also owns a rival carmaker.
“Hello to the social media platform owned by one of our competitors,” French automaker Citroen said in a cryptic tweet.
There is also growing fear that Musk’s decision to monetize verified accounts will flourish misinformation and hate speech on Twitter.
Paid Twitter verification may lead to the blue tick losing its value if it becomes too easily available. It may lead to rampant misinformation and chaos, Aparajita Bharti, founding partner, TQH Consulting, a Delhi-based consultant, said to The Hindu.
Advertisers like the Volkswagen Group fear that their advertising may appear alongside objectionable content putting the brand reputation at stake.
There are concerns if the new policies will curtail free speech, and flourish cyber threats.
“Elon Musk’s plan to charge verified users will further attract cybercrimes,” Rajarshi Bhattacharyya, chairman and managing director of Process IT Global, a Kolkata-based consulting company, said to The Hindu.