Advertisers slow to return to Twitter despite Musk’s claims

Twitter’s ad revenue recovery appears to be slower than its owner, Elon Musk, claimed earlier this week in an interview with the BBC. Insider Intelligence has also slashed its forecast for Twitter’s global ad revenue this year by 37%, to $2.98 billion, representing a 28% decline from its 2022 ad revenue of $4.14 billion. Before Musk’s acquisition of Twitter in late October, major brands such as Mondelez International, Unilever, and Coca-Cola were among the platform’s top 10 advertisers. The firm added that Twitter’s ad business is “eroding” and its subscription product, Twitter Blue, is only moderately successful. Enberg noted that advertisers are focusing on platforms that can offer the highest return on investment, and Twitter has not been that platform.