Musk says “activists” caused Twitter revenue to plummet

Musk says “activists” caused Twitter revenue to plummet

(Reuters) – Elon Musk, the new owner of Twitter, said on Friday the social network had suffered a “massive” drop in revenue due to pressure from “activists” on advertisers.

The multi-billionaire, who took control of the company last week, added that the drop in sales came “while nothing has changed in terms of content moderation and we’ve done everything we can to appease activists.”

“Extremely twisted! They are trying to destroy freedom of speech in America,” he wrote on Twitter.

When it last released its financial results in July, then-Wall Street-listed Twitter attributed its revenue decline to the impact of Elon Musk’s proposed acquisition and the deteriorating digital advertising market.

Elon Musk said last month he wanted to see Twitter become “the most respected advertising platform.”

But several major corporations, including General Motors, General Mills and Audi, have already stopped distributing ads on the social network.

(Report by Tiyashi Datta and Nivedita Balu in Bangalore, French version by Marc Angrand, edited by Kate Entringer)


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