Shulou(Shulou.com)11/24 Report--

CTOnews.com, June 6 (Xinhua)-- Twitter's advertising revenue fell 59 percent in the five weeks from April 1 to early May compared with the same period last year, according to the New York Times. Twitter employees say the company's advertising revenue often falls short of its target and is unlikely to change in the short term.

▲ Twitter's new CEO tweeted to confirm his appointment. Musk had previously said that Twitter is expected to generate $3 billion (CTOnews.com Note: about 21.33 billion yuan) in 2023. In 2021, the last full natural year before Twitter was acquired by Musk, Twitter's advertising revenue was as high as $5.1 billion (currently about 36.261 billion yuan). In March last year, he said Twitter was worth only $20 billion (currently about 142.2 billion yuan), less than half of the $44 billion he paid for Twitter (currently about 312.84 billion yuan).

Last week, Musk said on Twitter Space that "half of Twitter's ads have disappeared" and accused advertisers in Europe and North America of putting "a lot of pressure" on the company. Musk even said bluntly, "they are trying to bankrupt Twitter."

However, Twitter ad salespeople are worried that ads will be scared off by more and more bad information on Twitter. Since Musk took over Twitter, he has taken steps such as hiring key sales executives and restoring banned users, leading advertising agencies and brands, including General Motors and Volkswagen, to suspend advertising spending on Twitter.

According to CTOnews.com, Linda Yaccarino, former head of advertising at NBC Global, took over as Twitter CEO on Monday and hired one of her senior lieutenants from NBC Global, but public opinion is still not optimistic that she will be able to reverse the decline in Twitter advertising in the short term.

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