Over 500 advertisers have paused spending on Twitter: report

Twitter's daily revenue on 17 January was 40 percent lower than the same day a year ago, according to a media report.

1 min read

18 January, 2023

More than 500 of Twitter's advertisers have paused spending on the micro-blogging site since Elon Musk's takeover last year [Muhammed Selim Korkutata/Anadolu/Getty-file photo]

More than 500 of Twitter's advertisers have paused spending on the micro-blogging site since Elon Musk's takeover last year, news website The Information reported on Wednesday, citing a person familiar with its ad business.

The social media company's daily revenue on 17 January was 40 percent lower than the same day a year ago, the report added.

The drop in the company's revenue was first reported by technology newsletter Platformer on Tuesday.

Twitter did not immediately respond to a Reuters request for comment on both the media reports.

Blue Checks and Balances

In-depth

Live Story

Hugo Goodridge

Since Musk took over Twitter last October, corporate advertisers have fled in response to the billionaire laying off thousands of employees and rushing a paid verification feature that resulted in scammers impersonating companies on Twitter.

The social media platform recently reversed its 2019 ban on political ads and said that it would relax advertising policy for "cause-based ads" in the United States and align its ad policy with TV and other media outlets.

(Reuters)