Musk admits Twitter money move continues to be detrimental, misplaced 50% of advert income

After drastic cost-cutting measures and numerous efforts to monetize the platform, Twitter continues to be within the crimson.

On July 15, Elon Musk tweeted(opens in a new tab), “We’re nonetheless detrimental money move, because of ~50% drop in promoting income plus heavy debt load. Want to succeed in optimistic money move earlier than we’ve got the posh of anything.”

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It has been a wild trip since Musk took the helm of the social media platform, promising to show Twitter right into a “digital city sq.,” and stem the detrimental money move. To this point, that is included shedding 80 % of Twitter workers, charging third-party apps as much as $42,000 for the API, and making verified Twitter accounts subscription-based. Many advertisers have left the platform over Musk’s, let’s consider, laissez-faire angle in direction of content material moderation. Lately, Musk introduced in former NBCUniversal exec Linda Yaccarino as CEO who’s tasked with bringing again advert income.

However primarily based on Musk’s tweet, that hasn’t occurred but. In March, Musk shared his purpose(opens in a brand new tab) of being cash-flow optimistic by now, which means Twitter is means delayed. As a part of its long-term plan to entice content material creators and lure influencers again to the location, Twitter has began sharing ad revenue(opens in a new tab) with choose Twitter Blue subscribers. Person Brian Krassenstein was recently paid(opens in a new tab) nearly $25,000.

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Primarily based on Twitter’s stability, possibly now is not one of the best time to be sharing advert income.