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Buying Twitter Elon Musk not without controversy, but it cannot be denied that social network gained notoriety thanks to its eccentric new owner.
However, this did not affect their income, which suffered greatly.
Platformer reports that Twitter he will receive 40% less income due to problems with the advertising business.
Arrival from Elon Musk promised an era of “unrestricted free speech”, which worried major advertisers who had suspended their advertising spending on Twitter fearing that their template would be mixed with hate messages.
It greatly affects Twitterwhose main source of income is advertising.
In the report Informationit became known that the manager Twitter said at the meeting that the income for that day was 40% lower than that recorded on the same day last year.
Another report from the same source indicates that the company reported a 35% decline in revenue in the fourth quarter of 2022. a internal meeting. Becoming a private company with purchase Elon MuskTwitter is not required to publish these metrics.
Twitter is in more trouble
Twitter In addition, he must start paying interest on a $13 billion loan that Elon Musk took the name of the social network to buy the platform.
These interests, which expire in January of this year, according to Financial Timesadd up to $1.5 billion.
26 billion at stake Elon Musk he spent directly on buying Twitter in addition to money from other investors.
Source: RPP
I’m a passionate and motivated journalist with a focus on world news. My experience spans across various media outlets, including Buna Times where I serve as an author. Over the years, I have become well-versed in researching and reporting on global topics, ranging from international politics to current events.