Because Of Elon Musk Jumawa, Twitter Advertising Revenue Actually Drops

Twitter's advertising revenue has fallen more than half in the United States (US) since Elon Musk bought it. (photo: dock. twitter).

JAKARTA - Elon Musk, the new Twitter owner, recently showed off that advertisers continued to arrive or return to his platform. However, the new reality is inversely proportional to what he said.

A report sticking out based on internal documents obtained by NYTimes, showed Twitter's advertising revenue plummeted by more than half in the United States (US).

Twitter has only generated sales of ads worth US$88 million or equivalent to Rp1.3 trillion between April and May 2023, since Musk took over the social media.

This means that Twitter has decreased by 59 percent from the same period last year. The company continues to fail to meet its weekly sales projections in the US.

In fact, the report is worse than Musk's 50 percent drop in March, suggesting many industries are still afraid of billionaire's new policy for Twitter.

Since Musk bought the platform, he has recovered accounts that are considered controversial several times. One of them belongs to former US President Donald Trump.

Musk also fired several major sales executives on Twitter in October 2022. As a result, several well-known industries confirmed they would no longer advertise for fear of his platform and leadership.

He also continues to argue through his fairly controversial Tweets, about gender affirmation, war in Ukraine, the government's response to COVID-19, population collapse, crime, immigration, and much more.

Just in April, when Musk conducted an interview with BBC International, he stated the company had reached a break-even point claiming almost all advertisers had returned or said they would return.

Previously reported, Musk also announced that he would resign as CEO of Twitter in order to focus on supervising products, software, and administrators as Chief Technology Officer (CTO).

Instead, he employs Linda Yaccarino, who seems to have been selected based on her success and connections in the world of advertising, after serving as an NBCUniversal executive.

Yaccarino, Musk said, would focus more on developing and improving relations with advertisers, whose purchases are the majority of Twitter's revenue. This was quoted from The Independent, Tuesday, June 6.