Daily Maverick
Dailymaverick logo

Business Maverick

This article is more than 3 years old

Business Maverick

Musk Says Twitter Had ‘Massive Drop’ in Revenue on Ad Pullback

Elon Musk said that advertiser fears over content moderation on Twitter Inc. caused a “massive drop in revenue” at the platform even though no changes have been made. 
Musk Says Twitter Had ‘Massive Drop’ in Revenue on Ad Pullback Elon Musk. (Photo: Dimitrios Kambouris / Getty Images) | Twitter logo
Bloomberg
By Bloomberg
4 Nov 2022
Facebook
0

The comments come after brands including Audi, Pfizer Inc. and General Mills Inc. said they planned to temporarily pause spending on the platform while they wait to see how it evolves under Musk’s leadership.

Musk, who has branded himself a free-speech advocate, has said he wants to change how the website treats controversial content, while reassuring advertisers that he doesn’t want it to turn into a “free-for-all hellscape, where anything can be said with no consequences.”

Read More: Twitter Latest: Musk Says Ad Losses Fuel ‘Massive’ Revenue Drop

The billionaire paid $44 billion for Twitter after a contentious courting process that has resulted in a clear-out of senior management once the Tesla Inc. CEO took over. Musk’s ownership has already brought immediate disruption to Twitter’s operations, in part because many of his ideas for how to change the company are at odds with how it has been run for years.

Comments

Scroll down to load comments...