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

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com July 16, Elon Musk said that due to a nearly 50% drop in advertising revenue and a heavy debt burden, Twitter's cash flow is still negative. In other words, he missed the March target that Twitter would achieve positive cash flow in June.

This is the latest operating data since Musk bought Twitter in October last year (delisted after the acquisition) and suggests that Twitter's advertising revenue may not have recovered as quickly as Musk said in an interview with BBC in April.

In that interview, Musk said most advertisers had returned to the Twitter platform. Before that, Twitter was criticized for lax content censorship, which further prompted a large number of advertisers to withdraw because they did not want ads to appear on inappropriate content.

After cutting thousands of jobs and cutting spending on cloud services, Mr Musk said the company had reduced its non-debt spending to $1.5 billion (about 10.725 billion yuan) from an estimated $4.5 billion in 2023 (CTOnews.com Note: about 32.175 billion yuan).

In addition, due to the debt assumed on the $44 billion (currently about 314.6 billion yuan) transaction, Twitter has to pay interest of about $1.5 billion per year (currently about 10.725 billion yuan).

Musk mentioned that the time frame for the 50% decline in advertising revenue is not clear. He has said Twitter's revenue target is $3 billion in 2023, down from $5.1 billion in 2021.

Musk also hired Linda Yaccarino, former chief marketing officer of Comcast's NBCUniversal, as CEO, suggesting that ad sales are a high priority for Twitter, even as he tries to increase subscription revenue.

Ms Yacarino, who took over as Twitter in early June, previously told investors that Twitter plans to focus on video, creators and ecommerce partners and is in preliminary negotiations with politicians and entertainment, payment service providers and news and media publishers.

Related readings:

"Musk: 339.06 billion seconds of global active users of Twitter on July 13, an increase of 3.55% from the previous week"

"Twitter officially launched the advertising revenue sharing program. If you want to apply, you need to subscribe to Twitter Blue."

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