Elon Musk said that the cash flow of Twitter it remains negative due to a nearly 50% drop in ad revenue and a heavy debt load.
“We need to get cash flow positive before we can afford to do anything else,” Musk said in a tweet early Saturday.
After Musk acquired Twitter in October, the social media company faced months of chaos, including layoffs of thousands of employees, criticism for lax content moderation, and an exodus of many advertisers who didn’t want their ads to appear alongside Twitter. inappropriate content.
Musk’s hiring of Linda Yaccarino, former head of advertising for Comcast’s NBCUniversal, as chief executive indicates that ad sales remain a top priority for Twitter, even as it works to grow subscription revenue. Yaccarino started working at Twitter in early June.
Thursday, Twitter announced that certain content creators they will be able to receive a portion of the advertising revenue the company earns, in an attempt to attract more content creators to the site.
Source: Reuters
Source: Gestion
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