The Twitter logo is seen on an iPhone mobile device in this stock photo on Oct. 12, 2022.
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Advertising guru Maurice Levy said Friday that most advertisers are likely to return to Elon Musk’s revamped Twitter, provided a few key conditions are in place.
Describing the platform as at a crossroads of “total freedom” that could lead to either chaos or greater control, Levy told CNBC that most advertisers are currently in a “wait and see” mode to determine Musk’s final position.
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“They’re in a position where the vast majority of them are going to wait and see,” said Levy, who is chairman of the board of supervisors. Publicis Group:the world’s third largest advertising and communications company.
“It is an area of complete freedom that can lead to chaos. Or will it be something that will be better controlled and the moderation will work properly,” he told CNBC’s Charlotte Reed at the Paris 2022 conference.
Musk bought Twitter for $44 billion in late October after a long legal battle with the company, and has since sought to overhaul the platform, including its content moderation policies.
That has scared many advertisers, and now it’s estimated that half of Twitter’s top 100 advertisers have left the platform since Musk took over.
However, Levy said he expects the vast majority will eventually return if the company can reassure them that it will moderate content and protect democratic freedoms and pluralism of opinion.
“They are a little concerned about what will happen to the moderators, what will happen to the content,” Levy said.
“If it’s shown to work well, I think most of the advertisers who decided against it will come back,” he continued.
“If the situation is not what we expect, which is a democratic position, a plurality of opinions and the possibility of having something that does not lead to extremism, and we do not see any expressions of racism and so on, then I think that: If we go back to something more controlled, advertisers will come back to Twitter,” Levy added.
Levy’s comments come hours after Twitter abruptly suspended several high-profile journalists covering the platform and Musk on Thursday night.