Twitter’s Advertising Revenue Continues To Crater

The New York Times reports:

The World Cup has historically been a boon for Twitter, bringing in record traffic and an influx of advertising dollars. But this time, when the global soccer tournament started on Nov. 20, Twitter’s U.S. ad revenue was running at 80 percent below internal expectations for that week, three people with knowledge of the figures said.

Twitter’s advertising business has become so fraught that it has started offering brands additional incentives. Some brands are committing only to promotions for events, like the Super Bowl, with heavy discounts or clauses that allow them to back out for any reason, according to internal documents.

Automakers are among the most concerned advertisers, with General Motors raising questions about whether Twitter’s data would be shared with Mr. Musk’s car company, Tesla, three people said.

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