Twitter does not raise head The investment in advertising within the social networks, which is the main source of business for the little bird company, fell during the month of December a 70%according to a recent study by the analysis firm Standard Media Index (SMI).
Since Elon Musk seized control of the social network three months ago, many companies have slowed down or withdrawn their advertising from the platform due, in large part, to the soft hand of the executive in terms of content moderation. Among them would be 14 of the top 30 advertisers the site hadaccording to recent information from Reuters.
Over the past few weeks, Musk has been trying to make changes to the app in order to win back the trust of advertising firms and increase revenue. Among other things, the application has stated that it will begin to allow political ads, which have been prohibited in the tool since 2019, when it was still run by its co-founder. Jack Dorsey.
The executive has also made the decision to bet heavily on his Twitter Blue subscription service. A few days ago, Android users in countries like the United States, Canada, Australia, New Zealand and the United Kingdom, could access premium features of the ‘app’ by paying 11 euros per month. The tool was previously available on iOS and in the computer version, where it is cheaper and stays at eight euros.
Recently, Musk has stated that he has plans to launch a new subscription thanks to which users will be able to navigate the application without consuming advertising. He has not shared the price it will have or the moment in which the launch could take place.
The huge drop in advertising, which accounts for nearly 90% of Twitter’s business, has helped the platform’s revenues fall a total of 35% during the last quarter of last year. In addition to his subscription bet, Musk has made numerous moves aimed at saving expenses. Recently, the social network has received several lawsuits after weeks without paying the rent for the offices that it has spread throughout the world.
The social network also put part of its office furniture up for auction. Among the lots were armchairs, tables, statues with the ‘app’ logo, booths for holding conferences or coffee makers.