Advertisers have reportedly been spooked by content changes, like the most recent drama which caused two executives to resign on Friday.
New York Timesafter major advertisers left the social media platform following billionaire Elon Musk’s takeover—though Musk claimed two months ago the site was “breaking even.”Key Facts
Twitter made $88 million in U.S.-based advertising sales during a five week period starting April 1, down 59% from April 2022, theThe social media company estimates its U.S. ad revenue will be down at least 56% each week in May, compared to last year, per theTwitter’s global ad revenue this year is estimated to be 28% lower than it was in 2022, at around $3 billion,
to research firm Insider Intelligence, as Twitter’s top 50 advertisers are spending markedly less since Musk took over the company in October.
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