Twitter loses nearly half ad revenue since Musk takeover

Twitter has mislaid astir fractional of its advertizing gross since it was bought by Elon Musk for $44 cardinal (£33.6bn) past October, its proprietor has revealed.

He said the institution had not seen the summation successful receipts that had been expected successful June, but added that July was a "bit much promising."

Mr Musk sacked astir fractional of Twitter's 7,500 unit erstwhile helium took implicit successful 2022 successful a effort to chopped costs.

Rival app Threads present has 150 cardinal users, according to immoderate estimates.

Its in-built transportation to Instagram automatically gives the Meta-designed level entree to a imaginable 2 cardinal users.

Meanwhile, its rival is struggling nether a dense indebtedness load. Cash travel remains negative, Mr Musk said astatine the weekend, though the billionaire did not enactment a clip framework connected the 50% driblet successful advertisement revenue.

In a tweet helium said: "Need to scope affirmative currency travel earlier we person the luxury of thing else."

After laying disconnected thousands of employees and cutting unreality work bills, Mr Musk said Twitter was connected way to station $3bn (£2.29bn) successful gross successful 2023, down from $5.1bn (£3.89bn) successful 2021.

The improvement is the latest motion the assertive cost-cutting measures person not been capable to ignite a instrumentality of advertisers who fled aft changes to its contented moderation rules.

That is contempt an interrogation the erstwhile CEO gave to the BBC successful April successful which helium suggested that astir had returned to the site.

Earlier this period Twitter decided to restrict however galore tweets its users could read. Unverified users tin work 1,000 tweets, and verified users 10,000 per day, a determination which the BBC said has baffled advertizing executives.

It follows efforts to propulsion users towards Twitter Blue, its paid subscription service.

Linda Yaccarino, antecedently caput of advertizing astatine NBCUniversal, was taken connected arsenic CEO successful June - a determination suggesting advertizing income are inactive a precedence for Twitter.

Ms Yaccarino has said Twitter plans to absorption connected video, creator and commerce partnerships. It is said to beryllium successful aboriginal talks with governmental and amusement figures, payments services, and quality and media publishers.