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Twitter continues to see a 'significant decline' in advertising revenue: report

Twitter logo on building
Twitter headquarters in San Francisco, California.Tayfun Coskun/Getty Images
  • A report from Platformer revealed that Twitter advertising revenue continues to fall.

  • This comes as the company struggles to retain advertisers following Elon Musk's takeover.

  • "We are seeing a significant decline in bookings," a revenue analyst said on Slack, per Platformer.

On Tuesday, a report revealed that Twitter advertising revenue continues to dip, as the company struggles to retain advertisers following Elon Musk's takeover.

Platformer reported that a revenue analyst for Twitter based in Europe posted a message to Slack on Monday that read: "We are seeing a significant decline in bookings."

The employee then shared that Twitter's ad revenue is down 15% year over year and weekly bookings are down 49% in Europe, the Middle East, and Africa, Platformer reported.

The news comes one day after Musk called out Apple and its CEO Tim Cook, accusing the company of censorship and claiming it "mostly stopped" advertising on Twitter.

Platformer also reported that on October 31, analysts found that $15.7 million from advertisers based in Europe, the Middle East, and Africa was already at risk.

"It's catastrophic," a former Twitter executive told the site.

Half of Twitter's top 100 advertisers, including Chevrolet, Ford, and Chipotle, have ceased advertising on the platform, according to the research center Media Matters,

Representatives for Musk did not respond to Insider's request for comment.

Correction: November 30, 2022 — An earlier headline on this story misstated what Platformer reported was declining at Twitter. Advertising revenue is down, not losses.

Read the original article on Business Insider