ITwitter ad revenue United States of America they are falling in alarming numbers due to the constant and controversial changes in the social network Since the takeover of Elon Musk, an increase in hate speech on the platform has begun to be detected.
Twitter’s US ad revenue from April 1 to the first week of May was 88 million dollars (€82,429,481), 59% less than the previous year, according to The New York Times.
Reaching in-house documents, the point of sale points out that the company is being examined. regularly below sales forecasts Weekly in the United States, sometimes up to 30%.
In addition, the company predicts that advertising revenues in the US will also show figures this month. 56% lower every week compared to a year ago.
According to the newspaper, Twitter’s ad sales team is concerned that advertisers are being pulled back by the rise of hate speech and pornography on the social network, as well as more ads for online gambling and related products, and consumption of marijuana on the platform. .
These issues will soon be the responsibility of former NBCUniversal executive Linda Yaccarino, who was appointed CEO of Twitter by Elon Musk last month and is expected to take over on Monday, according to expert media.
Musk, the owner of the social network, said that Twitter’s advertising business is on the rise. “all advertisers are back” and the company may soon become profitable.
Advertising is very important to Twitter, as it represents ads prior to Musk’s arrival. 90% of the company’s revenue.
After the controversial businessman’s arrival, major advertising agencies and brands such as General Motors and Volkswagen stopped their advertising investments on Twitter.
Musk said in May that Twitter is on track to generate $3 billion in revenue in 2023, up from $5.1 billion earned in 2021, when the company is still traded on Wall Street.
In March, Musk bought the company for $44 billion – worth $20 billionBut mutual fund giant Fidelity, which took stock on Twitter last week, gave the company a lower valuation: $15,000 million.