Top ad group says Twitter no longer 'high risk' after new chief appointed- FT

FILE PHOTO: Twitter corporate headquarters building is seen in downtown San Francisco, California, U.S. November 18, 2022. REUTERS/Carlos Barria

(Reuters) - Top advertising agency GroupM has told its clients that it no longer considers Twitter "high-risk" and is "cautiously optimistic" about the appointment of Linda Yaccarino as its new chief, the Financial Times reported on Friday.

Yaccarino will take over the social media platform beset with challenges and a heavy debt load, after she spent several years modernizing the advertising business at NBCUniversal.

WPP-owned GroupM had last year labelled Twitter as a "high risk" platform for advertising following Elon Musk's takeover. It flagged various issues including, large numbers of Twitter executives leaving or being fired and a wave of high-profile impersonations, that raised concerns about Twitter's abilities to follow the Federal Trade Commission's orders, various media reports showed.

GroupM had been holding back until there was a "return to normalcy" in regards to the amount of harmful content on the platform, which rose after the acquisition, the FT report said.

The group had been waiting for Musk to repopulate his senior leadership team and working with Twitter on improving "brand safety", it added.

Last year, Twitter laid off half its workforce but said cuts were smaller in the team responsible for preventing the spread of misinformation, as advertisers pulled spending amid concerns about content moderation.

GroupM and Twitter did not immediately respond to a request for comment.

(Reporting by Chandni Shah in Bengaluru; editing by Eileen Soreng)

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!


Next In Tech News

Brazilian lender Itau launches crypto trading
Montreal research hub spearheads global AI ethics debate
Nvidia CEO says he will try to prioritise Japan for AI processors
Europe’s world-leading artificial intelligence rules are facing a do-or-die moment
Bill Gates says chances of meeting�2�C warming goal fading fast
Spanish media association files $598 million lawsuit against Facebook owner Meta
Food faux pas: China diner shocked by RM280,000 bill for meal after accidentally posting photo of dish ordering QR code online
‘Too cold-blooded’: China animal lover who saved Border Collie marked for slaughter after original owner sold dog to meat vendor wins praise online
Spotify to cut 1,500 employees in third layoff round this year
Report: Meta to launch X rival Threads in the EU in December

Others Also Read