Twitter's Shrinking Ad Business: A Sign of Musk's Changing Game Plan Twitter's ad business has been in decline since Elon Musk took over in 2022, and recent earnings reports from SpaceX provide insight into just how far it's fallen.
The company generated $367 million in advertising revenue between April and June this year, a significant drop from the $426 million it earned during the same period last year.
Musk has been aggressively pushing premium subscriptions, including an ad free tier that likely cannibalizes ad revenue.