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Elon Musk now says that Twitter's cash flow remains negative for now, not least because of a nearly 50% drop in ad revenue. In addition, it is also due to the high debt incurred by Twitter.
This new partnership by Elon Musk may not come as a surprise to many, given that it was expected. Elon Musk himself has previously appointed a new CEO to increase advertising revenue for the social media company, while at the same time increasing advertising revenue.
Also this week, Twitter has started sharing revenue with content creators – in an effort to keep them on the platform and ensure more content is published on Twitter.
Elon Musk previously took over Twitter in October 2022 at a value of $44 billion. Since the takeover, Elon has cut a large number of employees in order to optimize operating costs, in addition to making various changes that received many criticisms. In fact, recently, with the introduction of Threads by Meta, it has also led to new competition for the platform.