JAKARTA - Twitter Inc experienced a decline in revenue and adjusted revenue for December last year, around 40 percent year-on-year (YoY). This happened after many advertisers left the social media platform.
The departure of advertisers from Twitter was largely due to social media being acquired by Elon Musk on October 27. They expressed concern over Musk's new policies.
At the time, according to data from advertising research firm Standard Media Index, the company immediately experienced a 71 percent decline in its advertising business during December.
Moreover, since Musk's takeover, he has often talked about the possibility of bankruptcy on Twitter.
Therefore, Twitter was recorded as having terminated employment (PHK) for 3,700 employees in early November in the context of downsizing the budget.
Then, it continued until this week it was reported that Musk had again fired 200 more employees.
However, last month Musk made his first interest payment on the 12,5 billion US dollars (Rp190 trillion) debt Musk used to make the company private last year, as quoted by Bloomberg, Saturday, March 4.
Twitter has tried to bounce back from adversity, by presenting a variety of paid features on its premium service, Twitter Blue.
Like Edit Tweets, where users can change Tweets that have been published within 30 minutes of uploading.
There is also an NFT Profile Photo, users can show off their NFT in a hexagon-shaped profile picture on their Twitter account.
Even with Twitter Blue, users can also Tweet up to 4,000 characters. Longer tweets can also be written in Quotes or replies.
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