As Elon Musk appears to be like for brand spanking new methods to earn cash from Twitter’s he’s going through a way more pressing downside: advertisers are fleeing the platform. Musk stated Friday that “Twitter has had a large drop in income” as a consequence of advertisers’ issues about content material moderation and different points raised by activists.

Quite a lot of main corporations have paused adverts in current days, together with GM, Audi, Pfizer, Common Mills, Volkswagen and different massive names who’re cautious of potential adjustments to Twitter’s insurance policies in addition to the departure of prime executives. Business teams have additionally expressed concern about model security beneath Musk, and The New York Instances reported this week that “IPG, one of many world’s largest promoting corporations, issued a suggestion … for shoppers to briefly pause their spending on Twitter.”

On Friday, the NAACP joined different civil rights teams in calling for an advertiser boycott of the platform. “It’s immoral, harmful, and extremely harmful to our democracy for any advertiser to fund a platform that fuels hate speech, election denialism and conspiracy theories,” NAACP President Derrick Johnson stated in a press release.

Advertisers’ pullback amid requires an advert boycott present simply how shortly Twitter’s advert enterprise has deteriorated beneath Musk. It additionally comes barely per week after Musk tried to reassure the trade he didn’t wish to flip the platform right into a “free-for-all hellscape.” Twitter noticed a big spike in hate speech and racial slurs instantly following the information of Musk’s take over of the corporate. Twitter’s head of security later blamed the exercise on a coordinated trolling marketing campaign. However the exercise additional fueled the issues of civil rights teams, prompting Musk to satisfy with civil rights leaders this week.

On Friday he appeared to blame the drop in advert income on lots of the similar activists. “Twitter has had a large drop in income, as a consequence of activist teams pressuring advertisers, despite the fact that nothing has modified with content material moderation and we did all the things we may to appease the activists,” he tweeted.

However a coalition of civil rights teams and activists rejected Musk’s characterization. Throughout a name with reporters on Friday, they stated that Musk’s mass layoffs of Twitter workers, together with individuals who work carefully and security, undermine the commitments he made following their assembly.

“Whenever you lay off nearly 50% of your workers, together with groups which are in command of truly monitoring, monitoring and imposing content material moderation guidelines, that essentially implies that content material moderation has modified,” stated Jessica González, co-CEO of Free Press.

The group additionally raised issues about Musk’s amplification of far-right conspiracies concerning the assault on Home Speaker Nancy Pelosi’s husband; it additionally cited stories the now-CEO may chip away at present Twitter guidelines defending trans customers. “If Twitter doesn’t take fast concrete actions that illustrate a real dedication to sustaining greatest practices that defend customers that corporations then corporations won’t assist with advert {dollars} and we’re seeing it occur in actual time,” stated GLAAD CEO Sarah Ellis.