Elon Musk attempted to reassure Twitter’s advertisers about the future of the platform in an open letterIt is Thursday morning, just days before the $44 billion purchase of the company.
Tweeted in a note
(TWTR), Musk said he doesn’t want the platform to become a “free-for-all-hellscape where anything can be said with no consequences,” despite his stated promise to rethink on its content moderation policies and bolster “free speech.”
Musk stated that he will reduce content restrictions. He also said that he would reverse permanent bans on accounts banned for violating the rules. Those plans had raised questions about the potential impact on Twitter’s core ad sales business, as advertisers might flinch at having their paid posts appear alongside more controversial content.
Musk’s letter appears aimed at quelling those fears, which could impact the company’s core business. In 2021, Twitter’s advertising revenues accounted for $4.5 billion or nearly 89% its total sales.
“In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences,” he said in the Thursday post. “Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise … Let us build something extraordinary together.”
Musk stated previously that he was open to all legal speech on Twitter. Different content rules apply around the globe. High moderation standards are required in Europe by the Digital Services Act. Musk in May said he is “exactly aligned” with the new law.
This letter shows that Musk, a billionaire Tesla CEO, is close to completing the Twitter acquisition. He had been trying for months to exit the deal. On Wednesday, Musk visited Twitter’s San Francisco headquarters and spoke with employees, reportedly telling them he does not in fact plan to cut 75% of Twitter’s staff, despite prior reports.
Twitter’s Chief Customer Officer Sarah Personette responded to Musk’s Thursday tweet saying that she had a “great discussion” with Musk on Wednesday. “Our continued commitment to brand safety for advertisers remained unchanged,” Personette said. “Looking forward to the future!”
The Wall Street Journal on Thursday reported that one ad buying agency had already received requests from about a dozen clients to pause their advertisements on Twitter if Musk restores Trump’s account, and other were considering doing the same.
Musk reiterated his lofty statement from earlier that the Twitter acquisition was not a venture to make money.
“The reason I acquired Twitter is because it is important to the future of 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,” Musk said.
Musk has previously suggested that he wants to increase Twitter’s subscription revenue to rely less on ads.