More than 500 of Twitter‘s advertisers have paused spending on the micro running a blog web site since Elon Musk‘s takeover final 12 months, The Information reported on Wednesday, citing an individual accustomed to its advert business.
The social media firm’s every day income on Jan. 17 was 40% decrease than the identical day a 12 months in the past, the report added.
The drop within the firm’s income was first reported by expertise e-newsletter Platformer on Tuesday.
Twitter didn’t instantly reply to a Reuters’ request for touch upon each the media stories.
Since Musk took over Twitter final October, company advertisers have fled in response to the billionaire shedding hundreds of staff and dashing a paid verification characteristic that resulted in scammers impersonating firms on Twitter.
The social media platform just lately reversed its 2019 ban on political advertisements and mentioned that it will loosen up promoting coverage for “cause-based ads” within the United States and align its advert coverage with TV and different media retailers.
