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Seen on reddit: Ran out of advertisers. Why? Yes.
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this post was submitted on 02 Jul 2023
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I wonder if advertisers have been leaving Reddit and if so, how many? I've honestly never seen a social media website/company ask for advertisers like this tbh.
I'm not a lot on social media to begin with, so I'm not sure.
Well few days ago their valuation by I think Fidelity got cut from 10b to 5.5b. That should tell you something
That was before the whole clown show. The valuation cut was dated May 31st
Even better.
Steve Huffman just following the footsteps of Elon Musk, during a recent interview Spez said he liked what Musk was doing with Twitter.
Twitter has lost 59% of their advertisement sales since Musk bought it.^[1]
Yay Poppin!
PoppinKREAM!!! In the fediverse!! Oh hell yeah!
I need context lol, who's Poppincream?
Reddit User who would show up with cited sources debunking bullshit other people would ardently defend in lieu of educating themselves.
When Musk said he wanted twitter to be the town square he was clearly meaning a medieval town square with people throwing their chamber pots out the windows and the streets running with effluent and the wells tainted with cholera.
Major woof if true. u/spez is a true business genius.
The cut was multi-staged and started middle of last year. The most recent cut was relatively small (10-15% iirc). As others have pointed out, that reduction doors not take into account the recent self-inflicted wounds.
It’s down almost 50% since they bought in in 2021 lmao
I've heard unsubstantiated claims that traffic to the advertiser portal has dropped ~40% since the protests started
I personally reached out to about a dozen advertisers, urging them to reconsider their marketing efforts on Reddit. After privatizing the subreddit I had moderated for 12 years, it seemed like the next logical step.
Damn that's commitment, I respect the effort
This kind of actions give hope, and their impact shouldn't be underestimated! Writing a personal message is one of those things that trigger the 'authenticity' all these marketeers have been conditioned to chase (and by chasing it can't ever hope to hit)!
First post, good vibes!
You're a good man, Charlie Brown.
That's brilliant, props to you!
Great idea! I haven't seen any others mentioning this in all the protest discussions I saw. Hopefully others did similarly, that seems like something that could really help.
I don't see social media companies do this, I see billboard companies do this. On billboards that stay "please advertise on our billboard" for years.
There’s a difference though as a billboard is a physical spot that they are actively losing money on when not filled vs a random spot in your feed.
It's still a spot that could be used by an actual ad. Of course, they have millions of those spots