Tesla CEO Elon Musk said in an interview with the BBC on Tuesday night local time that “most” of the Twitter advertisers have returned.
Elon Musk said that Twitter is not profitable now, but has roughly broken even. He said that if things go well, Twitter could be “cash flow positive” this quarter.
When asked about running Twitter, Elon Musk said “It’s been a roller coaster ride” and said he had made “a lot of mistakes” in the process, but he believed “Twitter is moving in a good direction “.
According to statistics from digital marketing analytics company Pathmatics, more than half of the top 1,000 advertisers on the Twitter platform before Elon Musk’s acquisition had stopped placing ads as of February this year.
According to Pathmatics, only 6 of the top 10 advertisers on Twitter before the acquisition are still advertising on the platform. This has had a serious impact on Twitter’s revenue. In December last year, it was reported that the company’s revenue had dropped by 40%. In addition, fewer users seem to be visiting Twitter. According to market research firm SimilarWeb, the number of users visiting Twitter’s ad pages fell 18% year-over-year in February.
In March, Elon Musk said that since he took over, Twitter’s ad revenue had dropped by as much as 50%, but that some large advertisers continued to place ads on Twitter. He specifically mentioned and thanked Disney and Apple, saying they were two of Twitter’s biggest advertisers.