Musk spreads his own content on Twitter regardless of the result and comments. Jaap Arriens/NurPhoto/Shutterstock
Twitter keeps making huge losses. Under Musk’s leadership, Twitter’s value has dropped by less than half.
Social media service Twitter with a new CEO On Linda Yaccarino is faced with a worse class of advertisers at the head of the service. He took up his duties on Monday.
The service, which is barely afloat mainly on advertising revenue, has made a loss of no less than 59 percent compared to the previous year. About that told NOW.
According to the Twitter staff, presumably the biggest reason for this is the increased pornography and hate speech on the service. The content in question has increased on the service since the technology billionaire Elon Musk bought Twitter. He is also active on his social media and has often been blamed for how he behaves in his service.
Among other things, the EU has stated that Twitter should improve its practices. The service has only reacted to this with empty assurances so far.
Advertising revenue from drugs and online casinos
According to investment fund Fidelity, Twitter is now worth $15 billion. Musk bought the service for 44 billion in October 2022.
US and European advertisers have put the service in a tight spot because of Musk’s management style. With this, half of the advertisers have given up.
– They are trying to bankrupt us, Musk said in a Twitter broadcast.
The biggest advertisers of the service, Amazon, Disney and Apple, have no longer bought advertising space with the same money as before. General Motors and Volkswagen have also put advertising in the service on hold for the time being.
The void left by advertisers in the service has been filled by advertisements for cannabis products and online casinos.
Twitter’s most expensive $500,000 ad space has gone unfilled recently, according to current and former employees of the service.