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For advertisers, a decentralized network like Mastodon poses similar brand safety concerns to those they’ve expressed with a Musk-helmed Twitter.
Decentralized social network Mastodon yesterday announced it’s reached 1 million monthly active users.
The free, open-source site, which enables users to build their own servers, has seen growing traction in the wake of Elon Musk’s controversial takeover of Twitter; Mastodon’s chief executive officer Eugen Rochko said in a post that it’s gained over 489,000 new users since Musk’s acquisition was completed on October 27.
Musk appeared to respond to the news with a string of derisive tweets about the platform before deleting them yesterday. Then, Monday evening, he asserted in a tweet that Twitter usage is at an all-time high, followed by a post reading, “I just hope the servers don’t melt!”
Despite this fact, many Twitter users have said they’ll flee to other sites over concerns that Musk’s Twitter will invite an influx of misinformation and hate speech, combined with platform changes like the billionaire’s recent decision to allow any user to become verified with a $8 monthly subscription.
Meanwhile, the tumult at Twitter has spooked advertisers, too. Concerns over brand safety and suitability has seen major brands like General Motors, Pfizer and Volkswagen pause their ad spend on the platform. Top advertising agency networks and holding companies including IPG and Havas have advised that all clients temporarily stop advertising on Twitter. Though Musk has been holding widely publicized talks with top advertisers in efforts to assuage their concerns, his own tweets have pitted advertisers as “activists” trying to hamper free speech.
Without advertisers, Twitter could be in real, long-term trouble. As it stands, advertising accounts for approximately 90% of the platform’s revenue. Even with Musk’s new plans for subscription-based user tiers, revenue stands to take a hit.
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