Twitter continues to see a 'significant decline' in advertising losses: report
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- A report from Platformer revealed that Twitter advertising revenues continue to fall.
- This comes as the company struggles to retain advertisers following Elon Musk's takeover.
- "We are seeing a significant decline in bookings," a revenue analyst posted on Slack, as per Platformer.
On Tuesday, a report revealed that Twitter advertising revenues continue to dip, as the company struggles to retain advertisers following Elon Musk's takeover.
Platformer reported that a revenue analyst for Twitter based in Europe posted a message to Slack on Monday that read: "We are seeing a significant decline in bookings."
The employee then shared that Twitter's ad revenue is down 15 percent year over year and weekly bookings are down 49 percent in Europe, the Middle East, and Africa, as per Platformer.
The news comes one day after Musk called out Apple and its CEO Tim Cook, accusing the company of censorship and claiming it "mostly stopped" advertising on Twitter.
—Elon Musk (@elonmusk) November 28, 2022
Platformer also reported that on October 31, analysts found that $15.7 million from advertisers based in Europe, the Middle East, and Africa was already at risk.
"It's catastrophic," a former Twitter executive told the site.
Half of Twitter's top 100 advertisers, including Chevrolet, Ford, and Chipotle have ceased advertising on the platform, according to the research center Media Matters,
Representatives for Musk did not respond to Insider's request for comment.