Advertising spend on Twitter Inc dropped by 71% in December, data from an advertising research firm showed, as top advertisers slashed their spending on the social-media platform after Elon Musk's takeover.

The recent data by Standard Media Index comes (SMI) as Twitter is moving to reverse the advertiser exodus. It has introduced a slew of initiatives to win back advertisers, offering some free ads, lifting a ban on political advertising and allowing companies greater control over the positioning of their ads.

A coalition of civil rights activists on Monday were urging Twitter's advertisers to issue statements about pulling their ads off the social media platform after its owner Elon Musk lifted the ban on tweets by former U.S. President Donald Trump.

A coalition of civil rights activists on Monday were urging Twitter's advertisers to issue statements about pulling their ads off the social media platform after its owner Elon Musk lifted the ban on tweets by former U.S. President Donald Trump.

Trump's account, which Twitter had suspended after the U.S. Capitol riot on Jan. 6, 2021 citing the risk of further incitement of violence, was reinstated over the weekend. Some 90% of Twitter's revenue comes from selling digital ads.

The groups in the Stop Toxic Twitter coalition complained that Musk had vowed to advertisers that Twitter would take a considered approach to reinstating banned accounts and convene a new content moderation council. No such council has been created as of Monday.

A coalition of more than 40 advocacy organizations including the NAACP and Free Press sent an open letter to Twitter's top 20 advertisers on Tuesday, asking them to pull their ads if Musk guts content moderation on the platform.

Mediabrands, a unit of ad holding company IPG, has advised its clients to pause advertising on Twitter for the next week until the company gives more details about its plans to protect trust and safety on the platform, according to a source familiar with the matter.