After the transition under the control of Elon Musk, the company is in a fever.
Having passed under the control of Elon Musk at the end of October, Twitter left the stock market and became private, and therefore it is no longer required to regularly publish financial statements. It is known that at the end of 2021, she was able to raise more than $ 5 billion, and up to 90% of the proceeds were provided by advertisers, with whom, after the deal with Elon Musk, the social network is not going smoothly.
According to Reuters, citing data from the Standard Media Index (SMI), in November, advertiser spending on Twitter profile services decreased by 55% year-on-year, and in December by 71%.
Image Source: Reuters
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Pathmatics estimates that since the end of October, 14 of the top 30 Twitter advertisers have opted out of the site. In the future, Elon Musk hopes to make subscriptions the main source of income for the social network, but for now the company is trying to attract advertisers with all sorts of indulgences in its marketing policy and additional free placements when buying advertising space for a certain amount.