Ad revenue is down 40% from $5B in 2021 to a projected $3B in 2023. For reference, most other social media ad companies have had flat or slightly negative (~2%) revenue growth.
Damn, if it wasn't for the debt he dragged the company into that could actually be manageable. There is a possible steady state for twitter to be more focused on right wing minded people who don't like being told unhappy truths or have their lies questioned, like tumbler has for dumb teens. It could very well just be smaller and continue on with that "niche" because it's a big niche. But that debt really puts some limits on future options.
I haven't seen any official statements to that effect. This is from a month ago:
> Last November, General Motors Corp. (NYSE: GM) was among the first companies to announce pausing Twitter ads. Among those that took a similar path were General Mills, Inc. (NYSE: GIS) and Volkswagen AG’s Audi unit.
> Brands such as Mondelez International Inc. (NASDAQ: MDLZ), Coca-Cola Co. (NYSE: KO), Merck & Co Inc. (NYSE: MRK), Hilton Worldwide Holdings Inc. (NYSE: HLT) and AT&T Inc. (NYSE: T) have also not returned to Twitter in terms of advertising as of February, Bloomberg noted.
> Last month, Musk said that Twitter’s revenue had fallen by 50% since October because of a decline in advertising.
