Twitter’s Revenue Down 40% As 500 Top Advertisers Pull Out – Search Engine Journal
Twitter is facing a crisis in its core advertising business, as a senior manager at the company recently informed employees that daily revenue is down 40% compared to last year.
This news, first reported by The Information, comes on the heels of reports that more than 500 of Twitter’s top advertisers have ceased spending on the platform since CEO Elon Musk took over.
The continued decline of Twitter’s advertising business makes it difficult for the company to break even in 2023, as Musk previously stated it would.
Why Are Advertisers Pulling Out?
Some major advertisers have expressed disapproval of Musk’s approach to content moderation, including the reinstatement of previously banned accounts and the dismissal of the company’s key executives responsible for curtailing hate speech.
Musk also terminated most of Twitter’s sales team, including many who were in charge of the company’s major advertisers and approximately 50 engineers and data scientists working on enhancing Twitter’s…
The post Twitter’s Revenue Down 40% As 500 Top Advertisers Pull Out – Search Engine Journal first appeared on SEO, Marketing and Social News | OneSEOCompany.com.
source: https://news.oneseocompany.com/2023/01/18/twitters-revenue-down-40-as-500-top-advertisers-pull-out-search-engine-journal_2023011839391.html
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