A day before Elon Musk’s court-imposed deadline to complete his $44 billion acquisition of Twitter, he posted a message to advertisers in an apparent attempt to soothe nerves as concerns circulate about how he intends to run the platform.
“I wanted to reach out personally to share my motivation in buying Twitter,” he wrote. “There has been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong.”
Mr. Musk went on to say that the reason he was buying Twitter was “because it is important to the future of the civilization to have a common digital town square,” where a “wide range of beliefs can be debated in a healthy manner without resorting to violence.” But, he added, “Twitter obviously cannot become a free-for-all hellscape where anything can be said with no consequences!”
Advertisers, which account for about 90 percent of Twitter’s revenue, have been watching the deal drama, and some have been concerned about how the uncertainty will affect the service as an ad platform. Mr. Musk has said he is a “free speech absolutist” and wants to loosen rules around content moderation on the service, including reversing the ban on former President Donald J. Trump from the platform. Advertisers typically shy away from promotions alongside toxic content and misinformation.
Twitter and other social media platforms are also grappling with a broader slowdown in digital advertising. Meta said on Wednesday that its profit in the most recent quarter was down more than 50 percent from a year earlier. The company, which owns Facebook, Instagram and WhatsApp, warned that it didn’t see any relief on the horizon for the declining ad market.
“Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise,” Mr. Musk wrote in his note Thursday. “To everyone who has partnered with us, I thank you. Let us build something extraordinary together.”
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