Musk concedes Twitter's ad revenue has halved and says advertisers are trying ... trends now
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Elon Musk confirmed on Monday that Twitter's advertising revenue had halved 'overnight' and blamed advertisers in America for 'trying to drive Twitter bankrupt' over its stance on free speech.
His comments came hours after a report in The New York Times claimed Twitter's US ad revenue for the five weeks from April 1 until the first week of May was down 59 percent, around $125 million, from last year.
Twitter's financial woes will be a focus for its new CEO Linda Yaccarino, who was publicly announced by Musk last month and whose first day on the job was brought forward two weeks to Monday.
Yaccarino is the former head of advertising at NBCUniversal and will 'focus primarily on business operations', Musk said at the time, suggesting her main job will be to entice advertisers back after his turbulent reign.
Advertising is a critical source of income for Twitter, and in 2021 it made up more than 90 percent of its total revenue.
Elon Musk confirmed on Monday that Twitter's advertising revenue had halved 'overnight' hours after a report in the New York Times suggested in the US it was down 59 percent
Musk's comments came on Monday, the first day for new CEO Linda Yaccarino, who has been hired to entice advertisers back to Twitter
The report in the Times on Monday suggested that the company has internally forecast that revenues will remain down at least 56 percent each week this month, as
