Elon Musk said Twitter’s cash flow remains negative due to a nearly 50% drop in advertising revenue and high debt, Reuters reports.
“We need to get to positive cash flow before we can afford the luxury of anything else,” Musk said in a tweet Saturday morning, according to[Newsro[Newsro[Newsro[Newsro
Since Musk bought Twitter in October, the social media company has faced months of chaos, including the layoffs of thousands of employees, criticism of lax content moderation and the exodus of many advertisers who didn’t want their ads to appear next to objectionable content.
Hiring Lynda Jaccarino, the former head of advertising at Comcast-owned NBCUniversal, as CEO suggests ad sales remain a priority for Twitter even as it works to increase subscription revenue.
Jaccarino started working at Twitter in early June.
Twitter said Thursday that certain content creators will be eligible to receive a share of the company’s ad revenue to attract more content creators to the site.
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.