Photo: DADO RUVIC/REUTERS / Deutsche Welle
Currently the digital platform giant Twitter is recording one of the worst moments in its history, creating a wave of rumors as to the fate of the company since billionaire Elon Musk put it under his belt.
The earnings records were not the most expected, since daily revenues have fallen by 40% compared to previous years, in addition to nearly 500 top advertisers have said “goodbye” to the social network due to its moderation policies, this could be the crisis that some experts predict for the coming months.
Among the long list of advertisers who have terminated their advertising contract with the platform were about 50 major companies around the world such as: Chevrolet, Ford, Novartis AG Mondelez, Apple, and others that had already resigned before the arrival of the billionaire; Coca Cola, Nestle and Chanel.
Advertisements that represented around 90% of revenue. Although there are still many companies interested in advertising on the social network, it is very clear that many more are leaving than staying.
Neverthelessthe tycoon is looking to diversify the company’s income, Leaving aside advertisements for a bit and concentrating all their efforts on consolidating subscriptions to Twitter Blue, However, it seems that this paid version of the platform is still not giving the expected results.
Besides of controversial layoff of 50% of its workforce. Twitter is reporting revenue well below annual estimates. The social network is facing several lawsuits for unpaid bills, office rentals, software services and private plane flights.
The last trick that Musk has left to recover his income, are the US presidential elections scheduled for 2024, but for that it would have to eliminate the ban on political campaigns and ads since 2019. This initiative may be as attractive for candidates as it is for big risks, although It would be a good alternative to recover.
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