Ever since Meta launched Threads -- which exceeded 100 million users less than a week after its launch-- traffic on Twitter has begun to slow down. The first two days of Threads' launch on July 6 and 7 saw Twitter traffic down 5%, according to Similarweb. Traffic to the bird app was down 11% year-over-year for the same days.
But Twitter's problems seem to go beyond simple traffic declines. Advertisers, according to new data from Emburse, are ditching Twitter in favor of more "Gen-Z-oriented" platforms.
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From May 2022 to May 2023, ad spending on Twitter fell by 54%; TikTok parent ByteDance and Snapchat experienced a 55% increase and a 41% increase, respectively.
OpenAI -- the makers of ChatGPT -- experienced a 3,266% increase in spending over that same time period.
Despite minor decreases in spending, Google, Meta and LinkedIn all took the lion's share of ad spending. Google's share of spending for the year was more than 51%; Meta's dipped to 34% and LinkedIn's stayed much the same at 12.5%.
Emburse found that companies increased their digital advertising by 6% for the first five months of 2023 compared to the same period last year.
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“Online advertising is an essential business function, even as companies look to establish lasting efficiency with their budgets and better manage spending practices,” Emburse’s chief experience officer Johann Wrede said in a statement. “Many of our customers entered 2023 ready to make changes with a shifting economy, and found that concentrating their ad dollars on platforms that are giving them high value with little tumult is the way to make a longer-term impact on their bottom line.”
