Elon Musk has let go of the reins of Twitter. And for good reason, Linda Yaccarino, former director of advertising for the NBCUniversal group, took up her duties as general manager of the American company on June 5. “It’s done, first day over!”she tweeted on the night of Monday to Tuesday at the end of her first day of work.
Elon Musk had confirmed in mid-May the appointment of Linda Yaccarino at the head of Twitter, but the owner of the platform then mentioned a six-week deadline for taking office, around June 23. Finally, the former adviser to Donald Trump took on the CEO costume three weeks earlier.
Accessible on your computer or as a download for your smartphone, Twitter is the official application of the microblogging social network. Find all the tweets on your mobile device.
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Downloads:
47 -
Release date :
06/05/2023 -
Author :
Twitter -
Licence :
Free license -
Categories:
Internet-Communications
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Operating system :
Android, Online service All Internet browsers, Windows, iOS iPhone / iPad
Twitter revenue plummets as advertisers leak
It must be said that time is running out for Twitter while the microblogging site has suffered a real financial haemorrhage with the flight of many advertisers, disgusted by the brutal practices of Elon Musk to take over a company for which he has put 44 billion dollars on the table last year. As a reminder, Twitter, which is no longer listed on Wall Street, has gone from 7,500 employees to nearly 2,000 under the leadership of the American multi-billionaire.
In this context, Linda Yaccarino’s expertise in advertising will not be too much to try to bring back the brands and the resulting advertising budgets on the social network. According to Insider Intelligence, Twitter is expected to earn less than $3 billion this year, compared to $4.1 billion in 2022, which would represent a 28% decline in revenue in one year. Already in 2022, the platform’s turnover had collapsed by 40% compared to 2021 (5 billion dollars).
If Elon Musk is betting on Twitter Blue, the paid version of the platform, to develop a new line of income, it will not be enough to make up for the deficit caused by the departure of advertisers. It is therefore up to Linda Yaccarino to convince them to return to Twitter, which is no small feat given the regular escapades of the owner of the microblogging site. The latter will also remain active in Twitter as technical director of the platform. To raise the bar, the American company has also poached another NBCUniversal executive in the person of Joe Benarroch. One more proof, if one were needed, that Twitter has indeed launched its seduction operation to bring advertisers back.