fbpx

Home » Twitter ad revenue drops nearly 50 percent according to owner Elon Musk

Capitol Communicator has a report that Twitter ad revenue dropped nearly 50 percent according to owner Elon Musk.

Twitter ad revenue drops nearly 50 percent according to owner Elon Musk

by | Jul 16, 2023

The financial woes for Twitter appear to be continuing as owner Elon Musk announced the platform is experiencing a nearly 50 percent drop in advertising revenue as it struggles with heavy debt load, reports The Hill.

“We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load. Need to reach positive cash flow before we have the luxury of anything else,” Twitter owner Musk wrote in a tweet.

After taking over the company in October, the billionaire made a series of controversial choices, including mass layoffs, firing top executives and launching the Twitter Blue program, which requires users to pay a monthly subscription for the verification check. Musk also pulled back on various content moderation measures, reinstating previously suspended accounts like that of former President Trump, while limiting how many tweets users can read in a day.

More here.

PHOTO: Wikipedia

About the Author

Capitol Communicator

Capitol Communicator is a unique online and offline resource for Mid-Atlantic advertising, marketing, public relations, digital and media communications professionals. The e-magazine, e-newsletters and events bring together communications professionals, fostering community and providing important information; news; trends; education; and opportunities for networking, career enhancement, business exchange and showcasing great work. Visit www.capitolcommunicator.com to learn more.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *


Sponsors

Brand Creep

Don't tell the lawyers

CAPITOL COMMUNICATOR CAREER CENTER SEARCH RESULTS (JOBS IN MULTIPLE LOCATIONS)

MEDIA KIT

Recent Comments

Categories

Events

 

SUBSCRIBE