Over 500 Top Advertisers Left Twitter In About Three Months

Since Elon Musk took charge, Twitter's finances are in shambles. As a result of numerous businesses pausing advertising owing to reservations about the platform's new content filtering measures, the company's revenue has decreased.

The company's top employee found numbers that paint a depressing picture of the company's revenue.

According to news report which cited a source with firsthand knowledge of the situation, a top Twitter manager informed staff that the company's daily revenue on Tuesday (17 January) was 40 per cent lower than it was on the same day a year earlier.

Over 500 of Twitter's top advertisers are said to have stopped using the social media platform since Musk took over in late October, as stated by Siddharth Rao, an engineering manager who is in charge of the engineers responsible for Twitter's ad operations.

As per the numerous reports, corporate advertisers have abandoned the platform after Musk's acquisition after the entrepreneur fired thousands of employees and began charging for blue tick.

Due of this, scammers began posing as businesses, harming Twitter's credibility.

Additionally, the social media network lifted its 2019 prohibition on political advertisements, easing US standards for "cause-based ads."

A new council for content moderation was also promised by Musk, although the organisation's formation is still ongoing. Previous reports have shown that since Musk's purchase, hate speech on Twitter has increased.

The news comes as a different media report asserts that more than three dozen media organisations are preparing to sign content sponsorship agreements with the social media network.