Twitter’s ad revenue has reportedly dropped 59% YoY

 

Since taking control of Twitter in Oct. 2022, Elon Musk has made significant changes to the social media platform, including prioritizing free speech at all costs and reinstating the accounts of controversial figures like Donald Trump, Marjorie Taylor Greene, Andrew Tate, and others.  This has reportedly led to worsening ad sales over time as brands look to protect their image and reputation.  Musk finalized his $44B takeover of Twitter in late Oct. 2022.  The New York Times reports that as of early May, Twitter's U.S. ad revenue was $88M, down 59% YoY.  Research firm Insider Intelligence predicts that Twitter's global ad revenues will drop by 28% from $4.14B in 2022 to $2.98B by EOY 2023.  Musk has sought to boost Twitter's sources of income by introducing paid subscription options and requiring advertisers to pay for verification to display ads in the app.