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Snap Investors Hope for Advertising Windfall as Brands Ditch Musk’s Twitter

  • Pfizer, Volkswagen halt Twitter ad spend at least temporarily
  • Snap’s shares have plunged 79% in 2022 on ad slowdown
    

    

Photographer: Andrew Harrer/Bloomberg
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Investors in Snap Inc., one of the smaller social media networks, may be among the biggest beneficiaries of Twitter’s loss of advertisers. 

Twitter could lose almost a third of its ad revenue as brands pull back from the site, according to estimates from MKM Partners LLC. Meta Platforms Inc.’s Instagram and Facebook would win the biggest chunk of that business, though the incremental sales would be about 1% of Meta’s total revenue, MKM says.