Twitter expects a sharp drop in revenue – WORLD

Twitter expects a sharp drop in revenueIzay Digital founder and social media expert Esat Ozkan, who shared his estimates on the matter, said, “Twitter ended last year with $5.1 billion in total revenue, of which $4.5 billion came from advertising. This figure corresponds to less than 1% of the global digital advertising market. Twitter wasn’t a powerful advertising tool for many brands before all of this happened. For now, brands need to be even more careful.”. The global giants in the automotive, food and pharmaceutical industries have stopped advertising.Pharmaceutical company Pfizer and snack maker Mondelēz were among the first to start a trend to stop advertising global brands on Twitter. These brands were followed by companies such as General Mills, Volkswagen Group, Audi and General Motors. On the other hand, Interpublic Group, which buys ads from companies such as Coca Cola and Unilever, has suggested that the brands it works with stop their Twitter advertising: content moderation and bot accounts that are delaying the Twitter acquisition process. On the other hand, car companies are also taking a step back due to Tesla being the CEO of Elon Musk’s rivals. That wave looks set to spread as Toyota says it’s evaluating what move they’ll make. Beyond what could be considered ambitious decisions, such as signing up for Blue Tick, albeit delayed, Musk is also making structural adjustments: he recently made the decision to lay off 90% of India’s workforce. Elon Musk is an outstanding manager, so brands want to see how the platform survives this hectic process and what path the new owner of the company will take.”