NY Times: Twitter keeps missing its advertising targets as woes mount.

[Tomconroy]

2022
The World Cup has historically been a boon for Twitter, bringing in record traffic and an influx of advertising dollars.

But this time, when the global soccer tournament started on Nov. 20, Twitter’s U.S. ad revenue was running at 80 percent below internal expectations for that week, three people with knowledge of the figures said.

In tandem, Twitter was rapidly cutting its revenue projections. The company previously forecast that it would generate $1.4 billion in the last three months of the year, down from $1.6 billion a year ago because of the global economic downturn. But as Twitter kept missing its weekly advertising targets, that number slid to $1.3 billion, then to $1.1 billion, two people said.

Elon Musk, Twitter’s new owner, has warned repeatedly that his social media company faces dire financial straits. Interviews with seven former employees and internal documents seen by The New York Times paint a fuller picture of Twitter’s financial woes.

No paywall:
Twitter Keeps Missing Its Advertising Targets as Woes Mount https://www.nytimes.com/2022/12/02/technology/twitter-advertising-targets-missed.html?unlocked_article_code=AAAAAAAAAAAAAAAACEIPuonUktbfqYhlSlUbASbJUNMnqBqCgvfeh6Ajh2PiITLQQDpcwv4JApOB_UiIeaN5aNYvxHGeRcRaPbNpROB3yqUXGX1RfDSSg8nOnoUZcWJyoJivX2gy0tWcBuBhrmexYyzicL8ggeDish7DOWG8W7iP1HIqdAxmqcFvcVy6yDdfkPe-Z-1x2Nh71PgmAokrBmtTIXnX4IS7Tkl2K96EbRrD6gIpWus_WTrbn9GU77poYxwFQBudDys5uTBgnYsabNAHP6__LAoje979h9gSCW9pK4SuB_4hVvXPGmBDkOWhC3Qan-zGSw8

[marble falls]

1. I hope Elon hasn't begun to meet the pile of woes that are coming his way.

[bucolic_frolic]

2. Why are these statistics public? It's now a privately owned company

[Tomconroy]

3. It's called a 'leak'.

[David__77]

4. Glad that information leaks.

Hopefully emails and such will leak as well.

[gulliver]

5. Oh no! Paid commercial propaganda is declining on Twitter!

I think Musk is looking to take Twitter to a more subscription-based model. I like DU's model, personally.

[ProfessorGAC]

6. $1.1 Billion Per Quarter...

...is below 3 of 4 quarters in 2021, and lower than 2 quarters in 2020.
At least there's no stockholders to revolt!

[LetMyPeopleVote]

7. Half of Twitter's top advertisers appear to leave platform within a month of Musk's takeover, report

Twitter's only real source of revenue is advertising. Musk has pissed off his major advertisers

Link to tweet

https://www.cbsnews.com/news/twitter-elon-musk-advertisers/?ftag=CNM-00-10aab7e&linkId=191170525

The few weeks since Elon Musk took the reins of Twitter have been filled with chaos – including a launch, takedown and relaunch of premium services as well as the unbanning of controversial figures. And this week, a new report showcases the impact the management change may be having on the social media giant's finances.

Nonprofit watchdog group Media Matters for America published a report on Tuesday concluding that Twitter has lost half of its top advertisers since Elon Musk acquired the platform at the end of October.

According to the report, 50 of the platform's top 100 advertisers, which have accounted for about $2 billion in spending since 2020, "have either announced or seemingly stopped advertising" in recent weeks. These companies had brought in over $750 million in advertising just in 2022, said the report, which relied on data current as of November 21.

Chevrolet, Chipotle Mexican Grill, Ford and Jeep are among the companies that have either issued a statement or have been publicly reported as recently stopping their advertising on the site, the report said. Others, which Media Matters dubbed "quiet quitters," have seemingly stopped their advertisements on Twitter since Musk's takeover, the report found using Pathmatics data. Those companies include AMC Networks, AT&T, BlackRock, Chanel and Kellogg, among others.