Wednesday, October 4, 2023

Twitter Facing Huge Advertising Loss, ‘Lost 50% of Ad Revenue’, Elon Musk

Billionaire Elon Musk, who recently acquired Twitter, has acknowledged that the social media platform is experiencing a loss in advertising revenue and negative cash flow.

Musk mentioned that Twitter’s significant debt and a substantial 50% decline in advertising revenue are affecting its cash flow.

He made this admission while responding to a Twitter user named Sophie, who suggested that Musk gather a consortium that aligns with his vision for the website and take steps to address its financial situation.

In response, Musk stated that Twitter is still experiencing negative cash flow due to the significant drop in advertising revenue and the burden of heavy debt. He emphasized that achieving positive cash flow should be a priority for Twitter before considering other initiatives.

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