Twitter has lost nearly half of its revenue from advertising since it was purchased by Elon Musk

Periskopi

17 July 2023, 15:52(3 years ago)

Twitter has lost nearly half of its revenue from advertising, the owner of this social network, Elon Musk, who bought it for $44 billion (about 39 billion euros) last October. According to foreign media, Telegrafi conveys, he said the company had not seen the increase in revenues that [...]

According to foreign media, Telegrafi conveys, he said the company had not seen the growth of revenues expected in June, but added that July was “slightly more promising”.

Otherwise, Elon Musk fired about half of the 7,500 Twitter staff when he took office in 2022 in a bid to cut costs.

On the other hand, the rival app Thrads now has 150 million users, according to some estimates.

Integrated connection to the Instagram automatically gives the Threads, the platform designed by Meta, access to two billion potential users.

We remember that earlier this month Twitter decided to limit how tweeted his users could read.

Thus, it was made known that unverified users can read 1,000 tweets, and users verified 10,000 a day -- a movement which reportedly has “hukers.

It followed efforts to push users towards Blue Twitter, his payment subscription service.

Meanwhile, Linda Yaccarino, formerly director of NBCUniversal advertising, engaged as CEO in June a movement suggesting advertising sales are still a priority for Twitter.