Twitter is bleeding value!
Twitter is bleeding value, LinkedIn News reports: "for the five weeks of April 1 to the first week of May, the social media platform's U.S. advertising revenue was down 59% from the same period a year ago — at $88 million, reported The New York Times, citing internal documents."
Twitter's new CEO, Linda Yaccarino, faces a few obstacles after starting the role Monday — and ad sales may be top of the agenda. For the five weeks of April 1 to the first week of May, the social media platform's U.S. advertising revenue was down 59% from the same period a year ago — at $88 million, reported The New York Times, citing internal documents. With "brands wary of appearing next to unsuitable content," its ad sales team does not predict a bounce back anytime soon and sees U.S. ad revenue for June to be down at least 56% each week compared with a year ago, according to the Times. In the past, ads have accounted for 90% of Twitter's revenue.