Musk: “Twitter low on funds, advertising down 50%”
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Twitter continues to be low on funds. This was revealed by the owner Elon Musk himself, explaining that a 50% drop in advertising revenue and a heavy load of debt weigh on the company. “Before we splurge on anything else we need to get back to a positive revenue stream,” Musk wrote in response to a series of tweets advising him on recapitalization. In an interview with the BBC last April, the millionaire said he was optimistic about the resumption of advertising, arguing that most advertisers had returned to social media.
Already in the April-May period, Twitter’s advertising revenues had been 88 million dollars, a decrease of 59% compared to the same period last year. According to the New York Times, among the reasons for the collapse of the social network, which is trying to diversify the services it offers, there would be the increase in hate speech and pornography on the social network which weighs on the decision of advertisers to keep their distance from the social network .
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