Twitter's December revenue was down 40% from the previous year, according to The Wall Street Journal. This significant drop in revenue has raised concerns about the future of the social media platform among those who fail to understand Musk's masterful 4D chess game.
From the WSJ:
Shortly after Mr. Musk took over Twitter, many advertisers paused spending on the platform—a source of concern as advertising represented almost 90% of Twitter's revenue in 2021. As it has sought to buttress its most critical revenue stream, the company has made several overtures to advertisers to woo them back on the platform.
However, more than 70 of Twitter's top 100 advertisers from before Mr. Musk's takeover weren't spending on the platform as of the week ended Feb. 25, according to an analysis from research firm Pathmatics, which is part of Sensor Tower.
To make up for the mass advertiser exodus, Musk hopes his "Twitter Blue" subscription program, which has launched in fits and starts over the last several months, will somehow stop being a failure.