The CEO of X, formerly known as Twitter, has taken steps to mend the company’s relationship with advertisers. They have reinstated a “client council” comprised of marketing and ad agency executives.
In a post on the platform, Linda Yaccarino announced the official return of the client council in the fall. This move is aimed at reversing the negative impact on revenues caused by an advertiser boycott that began after Elon Musk purchased the company for $44 billion last year. Musk recently acknowledged a negative cashflow and a 50% decrease in advertising revenues.
Yaccarino, a renowned TV advertising executive before joining Twitter, revealed that she has been engaging in conversations with brands like Coca-Cola and Visa. She emphasized the importance of reminding these brands about the platform’s power, user base, and economic potential in order to encourage them to resume partnerships.
Yaccarino asserted that X has become a safer platform since the acquisition. However, reports have highlighted the platform’s struggle to eliminate child sexual abuse material and Musk’s decision to reinstate previously banned users like Andrew Tate, a misogynistic influencer.
Yaccarino suggested that the reduction in staff numbers, from around 8,000 to 1,500 following Musk’s takeover, may have contributed to difficulties in communication with major advertisers.
She clarified her role as CEO and the distinction between her responsibilities and Musk’s hands-on involvement in the business. Musk envisions X as an “everything app” similar to China’s WeChat, including the ability to send payments.
Yaccarino described the rebranding of Twitter as a “liberation” that allowed the platform to move forward from a legacy mindset. Musk had announced the name change to X in a tweet on July 23rd.
When asked about the proposed cage fight between Musk and Facebook founder Mark Zuckerberg, Yaccarino focused on the potential of X and considered the talk of the fight as a humorous exchange between the two CEOs.
She even jokingly referred to the fight as a “great brand sponsorship opportunity”.