Twitter advertising revenues dropped to 50% and continued losing money due to financial struggles and debt.
Elon Musk Reveals Twitter Advertising Revenues Drop Resulting in Negative Cash Flow and Financial Struggles
Due to the dropping of Twitter advertising revenues, Elon Musk revealed that the 50% drop in Twitter advertising revenues and the debt they face resulted in negative cash flow from the social media platform despite investments and efforts to increase Twitter advertising revenues.
According to a report published in Business Insider, the dropping in Twitter advertising revenues was far from what Musk expected when he bought the famous social media platform after seeing more than a 50% drop in Twitter advertising revenues last month and continues to drop this July.
With the decreasing Twitter advertising revenues, Musk claimed that he was still hoping to see a positive cash flow and an increase in Twitter advertising revenues as they looked for better marketing or strategies to increase Twitter advertising revenues amidst the financial struggles.
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Twitter Advertising Revenues Continue to Drop Despite Efforts to Address Technical Failures and Financial Struggles
Following efforts to address technical failures and financial struggles, Twitter advertising revenues decreased, proving that changing the social media platform’s features would not increase Twitter advertising revenues.
With Twitter having millions of unverified and verified accounts, Musk claimed that Twitter advertising revenues continue to drop due to technical issues and other concerns, Business Recorder reported.
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