Twitter Lost More Than $50 Billion In 2 Months

When we look at the home page of Twitter, one of the most popular social media platforms in the world, at this time last year, we see that small advertisements are sprinkled between the tweets of the users we follow. This ad was mostly ads for world-famous corporate brands such as Apple, Spotify, Nike.

When we look at the home page of the same platform today, we see more advertisements and advertisements of unknown brands or applications. But Twitter’s new owner, Elon Musk, despite showing more ads Instead of making money, he’s losing money fast.

Let’s remember what happened

When we look at about 2 months ago, we remember that Elon Musk, known by the nicknames of “billionaire genius” and “Tony Stark of the real world”, bought Twitter. However, a few days after Musk bought the platform, the battle turned to a place of war and all global brands were on the platform. suspended or completely withdrawn ads. Even for Musk to get back to advertisers spent a whole week appeared, but our genius billionaire had failed in his plans.

The reason for this decision of the advertisers is that after the company’s new CEO announced that he will pave the way for freedom of expression, hate speech It had increased rapidly in a few hours. Of course, Musk tried to make many innovations on it. In fact, with its Twitter Blue membership, it is the prestige symbol of Twitter and the entire internet. blue tiki started to sell for money.

However, even these could not prevent both Twitter and Elon Musk from losing money. While Twitter rapidly depreciated, the company’s offices remained unpaid and employees began to be fired from officesTesla, another company of Musk 600 billion dollars lostwhile Elon Musk says “richest person in the world“from the title”The person who suffered the greatest loss of wealth in recent historyto the title had flown by.

Twitter keeps sinking like the Titanic (like the musicians on board with Elon Musk)

According to the news prepared by Reuters today and the data prepared by the world-famous digital marketing company Pathmatics, Twitter only increased its advertising revenues in November and December. lost 42%. This rate is approximately Equivalent to $53.8 million And considering that ads are the company’s biggest source of revenue, this loss is a heavy blow to the platform. Some of the information in the Pathmatics data is that 14 of the platform’s 30 largest advertisers have stopped advertising permanently, and 4 of them have significantly reduced their advertising budgets before purchasing.

However, while preparing this data, Pathmatics reached this data based on current user habits, but according to the details of the agreements made by the company with internal advertisers, the estimated figure of the company was lost. may be slightly different states. Twitter officials, on the other hand, did not make a statement about this loss, despite the insistence of Reuters and different news agencies. World giant brands are on the platform “protect brand safety and reputationHe states that they were withdrawn for the purpose.

Pathmatics stated that advertisers will gradually withdraw from the platform in 2023 and if Twitter cannot prevent this loss. claims he can declare bankruptcy soon.