GroupM, a renowned global media agency, has taken a u-turn on its earlier ‘high risk’ label for Twitter, following Elon Musk’s announcement of Linda Yaccarino as the new CEO, The Financial Times reports. The updated stance comes in the wake of considerable changes and instability under Musk’s leadership, which led GroupM to label Twitter ‘high risk’ back in November.
The agency’s new assessment arrives amid Twitter’s struggle to reclaim the trust of advertisers who left the platform, a move that cost the app nearly half of its annual revenue. Insiders hint at GroupM now motivating its clientele to enhance advertising spending on Twitter, contingent upon the platform curbing harmful content.
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This change of heart follows Musk’s reshuffling of his executive team, combined with GroupM’s partnership with Twitter to enhance brand safety. The appointment of Linda Yaccarino, former head of global advertising at NBCUniversal, as Twitter’s CEO from June 16, further catalyzes this shift.
Yaccarino brings with her a wealth of experience from her tenure of over 11 years at NBCUniversal and 19 years at Turner, a leading content creator for entertainment, news, and sports. Musk, though ceding his CEO position, will continue to play an essential role, focusing on product design and new technology.
This new leadership comes at a crucial time as Twitter experienced a drastic decline in advertisers, leading to a unique initiative in January offering free advertisements to match advertisers’ spending up to USD 250,000.
This news is based on information from Marketing Interactive.
