Twitter loses its Football World Cup ad revenue

The Football World Cup has always been a windfall for Twitter, bringing in record traffic and advertising money.

However, when the worldwide soccer tournament began on November 20, Twitter’s U.S. ad earnings was running 80 percent behind internal projections for that week, according to three people with knowledge of the statistics. The Football World Cup is the world’s most popular sport’s largest showcase, and it only comes every four years, so it should be a period of tremendous ad revenue for Twitter. However, according to the sources, this has not been the case. Twitter’s internal revenue expectations for the fourth quarter of 2022 have been reduced from $1.4 billion to $1.1 billion, according to the Times.

Musk took control in late October. According to reports, half of the site’s biggest sponsors have left, including heavyweights like Chipotle, Ford, and Chevrolet. Musk has restored controversial banned accounts and terminated the site’s COVID misinformation policy, and the reasoning is because major businesses don’t want their advertisements to appear alongside abusive tweets.

Advertisers began to express reservations about his Twitter arrangement even before he signed it. According to reports, an advertising analytics business, Twitter had 3,980 advertisers in May, the month after Mr. Musk agreed to acquire the company. It had 2,315 advertisers by October, the fewest of any month up to that period.