Twitter has had a “massive drop” in revenue owing to pressure on advertisers from activist groups.
Twitter chief Elon Musk announced over the weekend that costlier subscriptions on the microblogging platform will not carry ads. Musk informed about the same via Tweet.
“Ads are too frequent on Twitter and too big. Taking steps to address both in coming weeks,” he wrote. “Also, there will be a higher priced subscription that allows zero ads.”
According to a Reuters report, sales of digital ads on the social media platform fetches the company nearly 90% of its revenue. In November, Musk Tweeted that the company has had a “massive drop” in revenue owing to pressure on advertisers from activist groups.
Last year, the company launched Twitter Blue with the view of growing revenue, and the move came at a time when the company fights to retain advertisers. Last week, the company announced a new annual plan for the subscription service for the web. The company also announced plans for iOS and Android in select countries.
