For a company that relies on advertising revenue to survive, losing said advertising revenue is a very bad thing. unfortunately for Elon MuskThat’s exactly what’s happening. When the FIFA World Cup began in Qatar on November 20, the state’s advertising revenue for Twitter was 80 percent less than expected, according to one estimate. New York Times report(opens in a new tab),
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Those are only expectations for one week, mind you, but they don’t paint a rosy picture of what’s going on on Twitter right now. The World Cup is the biggest showcase for the world’s most popular sport and it happens every four years, so it Needed It’s time for massive ad revenue for Twitter. However, according to the Times, this has not been the case. According to the Times, Twitter’s internal revenue forecast for the final quarter of 2022 has been cut from $1.4 billion to $1.1 billion.
The explanation for this is that advertisers have been fleeing Twitter since Musk took over in late October. Half of the site’s top advertisers are reportedly gone, which includes such heavy hitters as Chipotle, Ford and Chevrolet. musk has been restored Controversial Banned Accounts And Close the site’s COVID misinformation policyAnd the thinking is that big brands don’t want their ads to appear next to offensive tweets.
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A separate Times report found that Hate speech on the rise(opens in a new tab) Also on Twitter since Musk’s acquisition.
As Musk’s ownership of Twitter continues, it will certainly be interesting to see whether his free speech absolutism eventually gives way to good business sense.