Twitter admits advertisers have largely abandoned the platform after taking over the network social Elon Musk in December 2022 By mid-December, over 70% of the top 100 advertisers had stopped using the platform in their campaigns. Elon Musk claims that son the party “rescued Twitter from bankruptcy”. We remember that Elon Musk was sure, having bought Twitter, that he would finally be able to realize the “true potential of the network.” social”. However, what has been mostly confirmed for now is that Twitter has lost the trust of its biggest advertisers and has, in fact, solidified its position as an entrepreneurial mouthpiece. Recently, Elon Musk went so far as to change the algorithm to such an extent that his tweets began to appear in the chronicles of almost all users. Twitter no longer has obligations as son withdrawal from financial markets, to disclose exact numbers to the public on a quarterly basis. However, a few third party shareholders are still on board and they still have the right to first hand information. main in corporate finance. This data shouldn’t be unreliable, but obviously with a good client like Elon Musk and a lively topic like Twitter, the most juicy news is unlikely to remain. secrets inside.

Twitter Ad Revenue Drops 40% After Takeover

For example, last Friday the Wall Street Journal reported that direction financial company Twitter reported son a 40% drop in advertising revenue – immediately after the takeover by Elon Musk. Many advertisers have removed Twitter from their campaigns due to moderation issues. Some have since reconsidered, especially during the Super Bowl. But the damage has already been done: more than 70% of the top 100 advertisers stopped including Twitter in their strategy for all of December 2022. However, the Wall Street Journal (owned by Jeff Bezos) notes that Twitter has never been truly profitable. : “Twitter posted a net loss 8 times in 10 years between 2012 and 2021 and hasn’t had any annual results since 2019.” From son Elon Musk, on the other hand, claims to have “saved Twitter from bankruptcy.” IN son arrival, network social lost about 4 millions dollars every day. Thus he explains vague mass layoffs, the termination of millions of contracts, and a somewhat borderline ultimatum that forced many employees to resign of their own accord. However, even despite this, Elon Musk still has problems. First, because the terms of the debt he has accumulated for the buyout are far from ideal. The WSJ reports that some of the debt carries an annual interest rate close to 15%. However, the platform’s business model has not fundamentally changed since the takeover. Twitter is still and always dependent on advertisers and, to a lesser extent, Twitter Blue subscribers (who seem to be struggling to find son public). Then, because after the mass layoffs, Twitter had to show with a small team. So, recently a change in the Twitter API broke all links for 45 minutes. Elon Musk’s diagnosis? “The code stack is extremely brittle for no good reason” and therefore “will have to be completely rewritten.” Whether there are enough developers on board to complete this ambitious task remains to be seen.