Business Maverick: Musk Says Twitter Had ‘Massive Drop’ in Revenue on Ad Pullback

The comments come after brands including Audi, Pfizer Inc. and General Mills Inc. said they planned to temporarily pause spending on the platform while they wait to see how it evolves under Musk’s leadership.

Musk, who has branded himself a free-speech advocate, has said he wants to change how the website treats controversial content, while reassuring advertisers that he doesn’t want it to turn into a “free-for-all hellscape, where anything can be said with no consequences.” Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists.Read More: Twitter Latest: Musk Says Ad Losses Fuel ‘Massive’ Revenue Drop

The billionaire paid $44 billion for Twitter after a contentious courting process that has resulted in a clear-out of senior management once the Tesla Inc. CEO took over. Musk’s ownership has already brought immediate disruption to Twitter’s operations, in part because many of his ideas for how to change the company are at odds with how it has been run for years.

Source: News Formal (newsformal.com)

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