Twitter, which has been in a major financial crisis since it was bought by Elon Musk, continues to experience a decline in its revenues. According to the data shared by Musk, there was a 50 percent decrease in Twitter’s ad revenues. In addition, the platform is facing a heavy debt load.
Elon Musk: Twitter ad revenues fell 50 percent
Elon Musk, who took control of Twitter in October last year, implemented a series of austerity policies. The billionaire name, who fired more than half of the company’s employees and put unnecessary items on sale, has also not paid the office rent for months.
The platform, which has expanded its Blue subscription and offered it with a number of innovations, still continues to experience a decrease in its revenues. Musk shared in the statementstated that there was a decrease of nearly 50 percent in advertising revenues. He stated that earnings are still negative due to the debt burden.
Threads platforms confused: Thousands of users downloaded the wrong app!
The download numbers of another platform of the same name benefiting from the launch of the Threads platform have increased significantly recently.
The measures Musk implemented for Twitter were not enough to attract new advertisers or persuade their own advertisers to keep on the platform. He first said in March that he wanted to make the platform profitable. However, it seems that it has not been able to reach this goal for four months.
On the other hand, a while ago, it started sharing its advertising revenues with Blue subscribers to attract influencers to Twitter. But time will tell whether this will be enough to improve the company’s financial situation.
It is not yet clear what Musk’s next move will be to make Twitter profitable. Some analysts suggest it should sell the company or turn it over to the private sector. However, Musk has no such plans.
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