Elon Musk is hours away from closing his $44 billion deal to acquire Twitter. Now is a good time to highlight the challenges the Tesla boss will face when he becomes the owner of the company. In this regard, the Reuters news agency recently presented the content of a report carried out internally by Twitter.
Crypto is less and less part of the news
According to a audiencehastion from Reuters on October 26, Twitter’s letter to investors reveals that ads targeting English-speaking users are the ones that generate the most revenue for the platform.
The study carried out by Twitter indicates that the most active among these users were very interested in cryptocurrencies in 2021. The number of English-speaking users interested in these assets had even reached a record level at the end of 2021.
But, the data has changed this year. With the bear market, the interest of English-speaking users in the crypto sector has decreased on Twitter. According to the social network study, this sector may not even be one of the growth areas in the future.
What if Twitter was declining?
In April 2022, five days before offering to buy the social network, Elon Musk had do a post to ask:Is Twitter Dying?“. The Tesla boss was concerned that most of the accounts with the most followers rarely tweet. This situation indicates that the social network has struggling to drive user engagement most “heavy“. Yet these are essential to the economic growth of the company, because the more active they are, the more advertisers will appeal to Twitter.
In addition, major advertisers, such as Dyson, PBS Kids and Forbes, have suspended their advertising contracts with the platform. They made this decision because of different factors that can harm their brand image on the platform. Among these factors is nudity. Indeed, Twitter is one of the few globally popular social networks that allow adult content on their platforms.
Elon Musk will face several challenges once he becomes the owner of Twitter. In particular, he will have to find a solution to stimulate the activity of the most important users on the social network. However, according to Reuters, Twitter employees believe that with Musk, the quality of content could deteriorate further.
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