“Without significant subscription revenue, there’s a good chance Twitter won’t survive the upcoming economic downturn.”
(Photo: Reuters)
san francisco Two weeks after taking over Twitter, Elon Musk warned of financial risks for the company. In a speech to the workforce and in a first email to Twitter employees, he addressed the difficult economic situation, as reported unanimously by the Bloomberg news agency, the newspaper “New York Times” and the technology service “Platformer”.
In the email to the workforce, which was circulated by several media outlets, Musk wrote: “Without significant subscription revenue, there is a good chance that Twitter will not survive the upcoming economic downturn.” Around half of the platform’s revenue will have to come from subscriptions in the future -Receipts coming, Musk wrote. Around 90 percent of Twitter’s sales currently come from advertising revenue.
Musk also lifted the home office rules and introduced office duty. “Starting tomorrow (Thursday) everyone is required to be in the office at least 40 hours per week,” Musk wrote.
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