📉🦜 “Twiplash! Twitter U.S. Ad Revenue Dives 59%, Musk’s ‘Even-Steven’ Declaration Questioned” 😱💸

TL;DR;
Despite billionaire Elon Musk’s assertions that Twitter was merely “breaking even,” U.S. ad sales for the social media giant fell by a whopping 59% in April, according to a New York Times report. This drop coincides with the departure of many major advertisers following Musk’s controversial takeover of the company. Meanwhile, Twitter’s global ad revenue for the year is projected to be 28% less than it was in 2022. Will the Twitter bird learn to fly high again in the ad sales sky, or is it destined for a further free fall? 🕊️💰📉

Once upon a time, Twitter was the hip, happening place for businesses to flash their ads, an electronic billboard for the digital age. But now, the tides seem to have turned, leaving us all wondering, “What’s up with the bird, bro?” 🦜🤔

April, traditionally known as the month of showers, rained down a storm of loss for Twitter, with U.S. advertising revenue plunging by a staggering 59% compared to the previous year. This leaves Twitter flapping its wings with a less than impressive $88 million in ad sales for the month. This is a dramatic drop from the heyday of April 2022, where the chirpy platform seemed to be perched atop the world of digital advertising. And May? Not looking too hot either, with ad revenues predicted to continue the downward spiral by at least 56% each week.

Now, what’s causing this sudden fall from the sky? Could it be the change of the guards – the takeover of Twitter by none other than billionaire Elon Musk? 💰🚀

The period after Musk’s entry into the Twitter nest has seen an exodus of advertisers. Nearly 50 of the top 100 advertisers on the platform either decided to pack up their ads or put their Twitter campaigns on pause. While Musk has claimed the site is “roughly breaking even,” these figures paint a different picture. 🧐🎨

The plot thickens with the revelation that Twitter’s global ad revenue for the year is predicted to be a dismal 28% less than it was in 2022. That’s around $3 billion, folks, and remember, this comes despite Musk’s assertion that those who flew the coop post his takeover had returned. 🌍💸😏

But why would these advertisers want to migrate away from Twitter? Some employees believe advertisers might have been spooked by a reported rise in hate speech on the platform. Some, like Kellogg’s, decided to scale back their Twitter advertising to “monitor this new direction.” 😮🍳🍞

Now, we’ve got Linda Yaccarino at the helm as the new CEO, chosen by Musk himself. With her previous gig being the chair of advertising sales at NBCUniversal, will she be the one to lift the Twitter bird back into the profitable skies of advertising? Or is Twitter destined to continue its bumpy flight? 🤷‍♀️✈️

But that’s not all, folks. Last Friday, Twitter said goodbye to two top executives who worked on advertising and content moderation. Musk tweeted, promising the “only limit” on content would be that it “will not be placed next to advertising.” This pledge, while noble, leaves us to question what lies ahead for Twitter’s advertising future. 😔🕊️

All this has us pondering, as we watch the Twitter bird trying to soar