Elon Musk said Saturday that Twitter, which he bought for $44 billion in October 2022, had lost roughly half of its ad revenue. “We are still in a negative cash flow situation, due to about a 50% drop in ad revenue and heavy debt loads,” the billionaire replied on Twitter to a user who offered strategic suggestions. concerning the blue bird network.
“We have to get to positive cash flow before we have the luxury of doing anything else,” he added, without further elaboration. The developments undertaken by Elon Musk since his takeover of Twitter have upset network users and advertisers. In May, Insider Intelligence claimed that Twitter was on course to earn less than $3 billion in 2023, almost a third less than in 2022.
Since then, the billionaire has made other announcements that have displeased Internet users, such as in early July his intention to restrict the reading of tweets to 10,000 per day for verified accounts, therefore paying, to 1,000 for others and even to 500 for new accounts. A few days later, new announcement: the TweetDeck application, widely used by information professionals, will be reserved in the following month for certified accounts, therefore paying.
