Devastation For Twitter As App Records 20% Drop In Traffic As Musk Confirms 50% Fall In Ad Revenue

Twitter’s current stats are not depicting a great picture for the company as Elon Musk’s woes regarding the platform continue.

First, the company was worried about Meta launching a rival platform called Threads but now, it appears that Twitter’s issues are far beyond just that.

In the month of April this year, the world’s richest person was told to shed light on how he thinks the popular microblogging website is doing. At that point in time, optimism was at its best and the firm seemed to be on track as Musk spoke about advertisers returning.

After all, revenue generated through ads means a huge deal because that’s the main way it has been making profits for years.

Musk had spoken about nearly all advertisers coming back but experts were skeptical about this ordeal and if there was much truth as they failed to agree.

He similarly shed light on positive cash flows but now, the picture has been turned upside down. We’re hearing more about how Twitter is failing to break even and how there is a mighty drop in ad revenue that’s close to 50%. These stats are linked to the month of June and it’s more or less liable that this is the truth because that’s how the tracking visits are recording data right now.

Musk shared how the traffic through which firms purchase ads on Twitter had gone down by a whopping 20% in June when compared to the previous year. Then, the main page where web traffic is attained was down by 4%. And then in the past week, we saw the interest for Threads increase, and that again affected the app’s traffic which fell 11% YoY.

But when we look at other social media apps like Meta’s Threads, it’s not producing that much money right now either. Yes, it’s too soon to make any decision or speak on the subject but one thing is for sure. The main money for Meta won’t be coming from Threads right now but Facebook and Instagram instead because that’s where all the ads are placed right now.

Did we mention how despite the explosive start from Threads, it’s failed to keep users engaged or hooked and they seem to be still in search for more.

But with the negative does come some positives from the world of social media. We’re seeing traffic on apps like Snapchat increasing by a whopping 170% in the month of June and then we saw TikTok achieve a whopping 32% YoY. Additionally, there are more benefits from ads that are seeing alternatives from other apps like Twitter and Meta’s Facebook and Instagram.

TikTok is also doing well in this regard so there is still hope of some sort of positivity.

In general, Twitter and Meta are down in terms of engagement as well as advertisers while TikTok and Snapchat are spiraling upwards.

H/T: Similar Web

Read next: Threads App: User Engagement Dips as Time Spent Decreases, Analytics Report Shows
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