Twitter ad usage drops 71 percent in December

Twitter ad usage drops 71 percent in December

Since the social network was bought by Elon Musk, more than 500 of the top advertisers have left the platform.

Advertising spending on Twitter decreased by 71% in December, according to the analysis of advertising research company SMI (Standard Media Index), published this Wednesday (25.jan.2022) by the news agency. Reuters. That percentage is related to the month of 2021.

Since Elon Musk took up order of the social network, at the end of October 2022, several advertisers reduced their use on Twitter or stopped advertising on the platform.

According to SMI data, ad spend on Twitter in November fell by 55% from the same month last year. November and December tend to be the months with the most promotions, because of dates like sexta-feira Negra it’s christmas

THE Twitter’s daily revenue fell 40% in 1 year due to the breach of advertising contracts, as indicated by journal specialized in technology Stage player. Advertising is the platform’s main source of revenue, accounting for more than 90% of its 2021 total of $5.1 billion.

According to Platformer, since the social network was purchased and Musk more than 500 of the top advertisers stopped their activities with the company.

The rise of hate speech on the platforms is one of the concerns for advertisers, along with a series of cases of fake accounts that have emerged since the relaunch blue stamp paid for verified users. Companies like Audi and pfizer stopped advertising on Twitter after the CEO earned $44 billion Tesla.

The decline in Twitter’s revenue has been registered at a time when the debt worth 13 billion dollars is about to mature, at the end of January, as indicated by the British newspaper. Financial Times. According to the car, Musk is considering selling more shares of Tesla, or even putting Twitter under bankruptcy protection.

The CEO of Tesla and SpaceX has sold more than $20 billion of Tesla stock to help fund the social platform. In December 2022, Musk said so without selling shares of the electric car company for the next 2 years.

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