According to research firm Sensor Tower, advertising spending on Twitter experienced a substantial 89 percent decline to $7.6 million during a two-month period earlier this year, as reported by Bloomberg. Reuters revealed that Twitter currently faces annual interest payments amounting to approximately $1.5 billion due to the debt it incurred when Musk took the company private for $44 billion. These findings indicate that despite Musk’s aggressive cost-cutting measures over the past year, Twitter still struggles to establish a solid financial foundation. It also underscores the considerable task ahead for the company’s newly appointed CEO, Linda Yaccarino, as she endeavors to rebuild Twitter’s advertising base.
