Twitter’s advertising revenue has plummeted by half since Elon Musk’s takeover.

The company is struggling to attract advertisers, and its revenue is expected to fall to $3 billion in 2023, down from $5.1 billion in 2021.

Musk has laid off thousands of employees and cut cloud service bills in an effort to cut costs, but the company is still struggling to generate positive cash flow.

In an effort to boost revenue, Twitter has restricted how many tweets users can read, and it is in early talks with political and entertainment figures, payments services, and news and media publishers.

The company’s new CEO, Linda Yaccarino, previously head of advertising at NBCUniversal, has said that Twitter plans to focus on video, creator and commerce partnerships.

It remains to be seen whether these efforts will be enough to turn the company around.

• Twitter’s advertising revenue fell by 50% in the first six months of 2022.
• The company is on track to post a loss of $1.5 billion in 2023.
• Musk has said that he wants to make Twitter a “platform for free speech,” but his changes to the company’s content moderation rules have alienated some advertisers.
• Twitter is facing competition from other social media platforms, such as Meta’s Threads app, which has 150 million users.

It will be interesting to see how Twitter fares in the coming months. The company is facing a number of challenges, but it also has some opportunities. If Yaccarino can successfully implement her plans, Twitter could still be a profitable business.