Elon Musk Begs Advertisers to Return as Twitter's Revenue Plunges

Source: Futurism

MEA CULPA
JUN 20, 10:10 AM EDT by VICTOR TANGERMANN

Elon Musk Begs Advertisers to Return as Twitter's Revenue Plunges

"I do shoot myself in the foot from time to time."

X-formerly-Twitter is in deep trouble — and owner Elon Musk is on his knees, yet again, imploring advertisers to return.

While the New York Times reported last week that executives at the beleaguered platform had assured employees that 65 percent of advertisers had returned, documents obtained by Bloomberg show that revenue has overall cratered since owner Elon Musk took over in late 2022.

Now, Musk and CEO Linda Yaccarino are back in damage control mode, trying to scrounge up some much-needed funds at this year's Cannes Lions festival in southern France. The mercurial billionaire reportedly met with executives from the likes of the NFL, L'Oreal, Qualcomm, and Target, according to new reporting by the NYT.

But whether these measures will help Musk's hate speech-ridden echo chamber from bleeding hundreds of millions of dollars per quarter remains to be seen.

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Read more: https://futurism.com/elon-musk-begs-advertisers-return-twitter-revenue