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Companies spend 71% less on Twitter ads in December.

Published: 2023-01-25

The year before last, the social network Twitter received up to 90% of its income from advertising on its pages, but at the end of October 2022, the company came under the control of Elon Musk, which scared away some advertisers with its inconsistent reforms. In December, their spending on Twitter ads fell 71% year-on-year, according to a new study.


Getting accurate financial statistics from Twitter is problematic now, because since the end of October the company has acquired the status of a private company and is not required to publish financial statements. With new statements about the decline in Twitter's advertising revenue in December, the research company Standard Media Index came out. Earlier it was reported that Twitter is ready to offer advertisers more favorable conditions in order to attract them. Additional free impressions, lifting the ban on political ads, and giving more control over the placement of ads are examples of such incentives.


Advertiser spending on Twitter dropped 55% in November, according to SMI, even though it's usually high season for the advertising industry. According to Pathmatics researchers, after the transition of Twitter under the control of Elon Musk, 14 of the 30 largest advertisers of this social network abandoned its core services. At a meeting with Twitter employees, it was reported last week that an executive at the company announced a 35% drop in fourth-quarter revenue. In mid-January, Twitter was earning 40% less daily than a year earlier.