Elon Musk says Twitter’s cash flow still negative as ad revenue drops

Elon Musk mentioned Twitter’s money move stays detrimental due to an almost 50% drop in promoting income and a heavy debt load.

“Need to reach positive cash flow before we have the luxury of anything else,” Musk mentioned in a tweet early on Saturday.

After Musk acquired Twitter in October, the social media agency confronted months of chaos, together with layoffs of 1000’s of workers, criticism over lax content material moderation, and an exodus of many advertisers who didn’t need their adverts showing subsequent to inappropriate content material.

Musk’s hiring of Linda Yaccarino, former advert chief at Comcast’s NBCUniversal as CEO, signaled that advert gross sales remained a precedence for Twitter at the same time as it really works to extend subscription income. Yaccarino began working at Twitter in early June.

On Thursday, Twitter mentioned that choose content material creators can be eligible to get part of the advert income the corporate earns in an try to attract extra content material creators to the location.

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