The social network Twitter will receive an ad-free version. The company is taking this step in an attempt to increase profits from its premium products. This is reported by The Guardian.
Elon Musk set out to increase the profits from the subscription. This is the basis of the business plan of the social network of which he is the owner. Musk announced a more expensive subscription without ads. As a reminder, it was only in December that the Twitter Blue subscription was restarted. Now, Musk has said the ads have become “too visible” on the site, so he will take steps to address the issue.
In 2021, it was advertising that generated 90% of Twitter’s revenue. After Musk’s acquisition of the social network, daily profits fell by 40% compared to last year’s figures. Advertisers left the social network, frightened by the activation of trolls and the spread of so-called “hate speech”.
The publication notes that Musk desperately needs to reduce Twitter’s dependence on advertising because he will soon have to pay interest on $13 billion in debt. In particular, at the end of January, the company must make a quarterly payment of $300 million.
As a reminder, during the management of Twitter by Elon Musk, 80% of full-time staff were fired from the company. Currently, out of 7500 employees, only 1300 remain on the social network, about 550 of whom are full-time engineers.
