Twitter Inc's ad revenue fell 71 percent in December as top advertisers cut spending on promoting their products and services on the social platform after entrepreneur Elon Musk acquired it.

This is shown by the data of a survey by an advertising research company, Reuters reported.

The latest data from the company SMI (SMI) comes against the background of "Twitter's" effort to stop the outflow of advertisers, notes Reuters.

The technology company offers them the opportunity not to pay for part of their ads and to have greater rights in making decisions about where in the social network to position their advertising messages.

In addition, Twitter removed its ban on political advertising.

Since Musk took control of the social network on October 27 of last year, 14 of its 30 leading advertisers have stopped advertising on it entirely, according to estimates from the marketing and advertising research company Pathmatics.

Twitter is trying to bring brands back to the platform with free advertising

From the week the billionaire acquired Twitter to the end of 2022, four of the top advertisers have cut their ad spend on the social network by between 92 and 98.7 percent.

Ads make up about 90 percent of the tech company's revenue.

In the last quarter of 2022, they decreased by approximately 35 percent on an annual basis due to a decline in advertising revenue, the specialized website "The Information" informed, citing a message from a high-ranking representative of "Twitter" made during meeting with employees last week, notes BTA. 

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