Final Up to date: January 18, 2023, 14:27 IST
Greater than 500 of Twitter’s advertisers have paused spending on the micro running a blog website since Elon Musk’s takeover final yr, The Info reported on Wednesday, citing an individual accustomed to its advert enterprise.
The social media firm’s each day income on Jan. 17 was 40% decrease than the identical day a yr in the past, the report added.
The drop within the firm’s income was first reported by know-how e-newsletter Platformer on Tuesday.
Twitter didn’t instantly reply to a Reuters’ request for touch upon each the media reviews.
Since Musk took over Twitter final October, company advertisers have fled in response to the billionaire shedding hundreds of workers and speeding a paid verification function that resulted in scammers impersonating corporations on Twitter.
The social media platform lately reversed its 2019 ban on political advertisements and mentioned that it will chill out promoting coverage for ”cause-based advertisements” in the US and align its advert coverage with TV and different media shops.
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(This story has not been edited by News18 workers and is revealed from a syndicated information company feed)