Final replace: Mar 05, 2023 9:44 AM IST
The corporate misplaced half of its prime 100 advertisers.
Musk mentioned final month that Twitter would instantly start sharing advert income with creators “for advertisements that seem of their response threads.”
Regardless of Elon Musk’s efforts to monetize Twitter, the microblogging platform reported a major 40 p.c drop in income and adjusted revenue for December 2022, media reported on Saturday.
A number of advertisers “have deserted the social media platform because the Elon Musk takeover,” The Wall Road Journal reported, citing folks conversant in the matter.
In an replace to buyers, Twitter reported a 40 p.c year-on-year decline in each income and adjusted earnings for December.
The corporate lately made the primary curiosity fee to banks that supplied a $13 billion mortgage to assist Musk purchase Twitter.
Twitter has not commented on the submit.
In November, Musk predicted that Twitter may go bankrupt. He laid off hundreds of staff and closed places of work all over the world to chop prices.
The corporate misplaced half of its prime 100 advertisers in lower than a month after the billionaire took workplace. Later, some advertisers returned to the platform.
Musk mentioned final month that Twitter would instantly start sharing advert income with creators “for advertisements that seem of their response threads.”
The CEO of Twitter apologized for exhibiting too many irrelevant and annoying advertisements on the microblogging platform and mentioned the corporate is taking corrective motion to enhance the algorithm.
“Sorry for exhibiting you so many inappropriate and annoying advertisements on Twitter! We’re taking (apparent) corrective motion by linking advertisements to key phrases and matters in tweets, similar to Google does with search. This may drastically enhance contextual relevance,” he wrote.
Learn all the most recent tech information right here
(This story was not edited by the News18 workers and is revealed from a information company syndicated channel)
